?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=https%3A%2F%2Fmpra.ub.uni-muenchen.de%2F1884%2F&rft.title=A+Macroeconomic+perspective+on+skill+shortages+and+the+skill+premium+in+New+Zealand&rft.creator=Razzak%2C+Weshah&rft.creator=Timmins%2C+Jason&rft.subject=J31+-+Wage+Level+and+Structure+%3B+Wage+Differentials&rft.subject=C23+-+Panel+Data+Models+%3B+Spatio-temporal+Models&rft.subject=O3+-+Innovation+%3B+Research+and+Development+%3B+Technological+Change+%3B+Intellectual+Property+Rights&rft.description=Qualification+and+occupation-based+measures+of+skilled+labour+are+constructed+to+explain+the+skill+premium+%E2%80%93+the+wage+of+skilled+labour+relative+to+unskilled+labour+in+New+Zealand.++The+data+exhibit+a+more+rapid+growth+in+the+supply+of+skilled+labour+than+the+skill+premium%2C+and+a+very+large+increase+in+the+real+minimum+wage+over+the+period+from+1986+to+2005.+++We+estimate+the+rate+of+increase+in+the+relative+demand+for+skills+and+the+elasticity+of+substitution.+The+data+are+consistent+with+skill+shortages+and+a+skill-bias+technical+change.++We+examine+the+effects+of+the+minimum+wage%2C+capital+complementarity%2C+and+the+exchange+rate+on+the+skill+premium.++We+also+test+whether+the+demand+for+skills+and+the+elasticity+of+substitution+varied+across+industries+and+over+time.&rft.date=2007-02-08&rft.type=MPRA+Paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.identifier=https%3A%2F%2Fmpra.ub.uni-muenchen.de%2F1884%2F1%2FMPRA_paper_1884.pdf&rft.identifier=++Razzak%2C+Weshah+and+Timmins%2C+Jason++(2007)%3A+A+Macroeconomic+perspective+on+skill+shortages+and+the+skill+premium+in+New+Zealand.++Forthcoming+in%3A+Australian+Economic+Papers++++&rft.language=en