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Skill Obsolescence, Vintage Effects and Changing Tasks
Janßen, Simon | Backes-Gellner, Uschi
Applied Economics Quarterly, Vol. 55 (2009), Iss. 1 : pp. 83–103
15 Citations (CrossRef)
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1Simon Janßen, University of Zürich, Plattenstr. 14 CH-8032 Zürich.
2Uschi Backes-Gellner, University of Zürich, Plattenstr. 14 CH-8032 Zürich.
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Abstract
Human capital is no doubt one of the most important factors for future economic growth and well-being. However, human capital is also prone to becoming obsolete over time. Skills that have been acquired at one point in time may perfectly match the skill requirements at that time but may become obsolete as time goes by. Thus, in the following paper, we study the depreciation processes of the human capital of workers performing different types of tasks with different skill requirements over a period of more than twenty years. We argue that two types of tasks must be distinguished:
JEL Classification: J0,J2, J3