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Using company-level data from three waves of the Continuing Vocational Training Survey (2005, 2010 and 2015), this paper provides an overview on European firms implementing training and the magnitude of their training effort. We illustrate in the descriptive statistics that there are significant differences in the wage and employment performance across companies in relation to the digital content of their production and training activities. We conduct a regression analysis documenting that a wage premium of 9% is associated with companies undertaking training and that an additional 8% is paid by firms arranging training for IT skills-intensive workers. The latter effect is pervasive across sectors and is not strictly related to industry exposure to the digital transformation. We seek to address both the simultaneity and the selectivity issue of our data implementing an instrumental variable regression and a propensity score matching procedure.

This document contains an extensive literature review of the state-of-the-art related to the research in UNTANGLED work packages (WPs) 3 to 6. The literature covered relates to (a)the impact of the three mega-trends of technological transformations, globalisation and demographic changes, and how they affect labour markets and social outcomes (WPs 3 to 5); and (b)literature related to building scenarios for Europe (WP 6). The document is divided into four sections. Each of the first three sections is concerned with the effect of these trends at the macro (WP3), meso (WP4) or micro (WP5_ societal level. The last section looks at scenario building (WP6). It is a living document in the sense that throughout the project additional sources will be added to keep the literature review up to date.

We investigate the decline of the labor share in a world characterized by rapid technological changes and increasing heterogeneity of capital assets. Our theoretical model allows for these assets to affect the labor share in different directions depending on the capital-labor substitution/complementary relationship and the workers' skill level. We test the predictions of our model using a large cross-country, cross-industry data set, considering different forms of tangible and intangible capital inputs. Our results show that, over the 1970-2007 period, the decline of the labor share has been mainly driven by technical change and Information and Communication Technology (ICT) assets, mitigated by increasing investments in R&D-based knowledge assets. Extending to other forms of intangible capital from 1995 onwards, we find that intangible investments related to innovation increase the labor share while those related to the organisation of firms contribute to its decline, particularly for the low and intermediate skilled workers. Our results are robust to an array of econometric issues, namely heterogeneity, cross-sectional dependence, and endogeneity

This paper investigates whether off-shoring promotes technological specialization by reallocating resources towards high-tech industries and/or stimulating within industry R&D. Using data for the US, Japan and Europe, our results show that material off-shoring promotes high-tech specialization through input reallocation between sectors, while service off-shoring favours technologically advanced production by increasing within-industry productivity, mainly via its positive impact on R&D. Conversely, we find that the increasing fragmentation of core production tasks, captured by narrow off-shoring, has adverse effects on technological specialisation, which suggests that this type of off-shoring is mainly pursued for cost-reduction motives.

This study explores the channels through which technological investments affect productivity performance of industrialized economies. Using a Stochastic Frontier Model (SFM) we estimate the productivity effects of R&D and ICT for a large sample of OECD industries between 1973 and 2007, identifying four channels of transmission: input accumulation, technological change, technical efficiency and spillovers. Our results show that ICT has been particularly effective in reducing production inefficiency and in generating inter-industry spillovers, while R&D has raised the rate of technical change and favoured knowledge spillovers within sectors. We also quantify the contribution of technological investments to output and TFP growth documenting that R&D and ICT accounted for almost 95% of TFP growth in the OECD area.

Using homogenous firm-level data for the largest Member States of the EU over the period 2007-2009, we test whether manufacturing firms receiving R&D public supports (subsidies and/or tax incentives) spent more on R&D. The analysis is performed by means of both non-parametric (Propensity Score Matching) and parametric estimations (OLS and mixed-model system, with the latter accounting for the possible endogeneity of public supports). The hypothesis of full crowding-out of private with public funds (i.e. public support reduced privately-funded R&D expenses) is rejected for all countries, with the partial exception of Spain. However, we do not find evidence for the hypothesis of additionality of R&D subsidies (i.e. direct funding did not raise private R&D). These findings contrast with earlier works and might be due to the period under assessment, which covers the financial turmoil and the subsequent economic downturn. A focused analysis on France suggests that R&D tax credits exerted a positive impact on R&D. Overall, our findings indicate that, albeit they were not expansive, public supports avoided the reduction of firm R&D at the outset of financial crisis.

Argentina desde el Mar pretende contribuir a la renovación de la enseñanza de la Historia Naval Argentina, tanto para sus instituciones educativas como para las del ámbito civil. En un país donde el mar es la principal frontera y camino con el mundo, la conciencia de su importancia es vital y solo puede construirse desde la educación. Para ello presenta una propuesta que recupera muchos de los aportes generados desde la Didáctica de la Historia, diseñando un material pensado integralmente con una finalidad pedagógica. De allí el especial énfasis puesto en anticipar las dificultades que presenta la narrativa histórica a un lector novato, entre las que sobresalen aquellas inherentes a la naturaleza del discurso historiográfico. Por ello se ha incorporado una serie de elementos - cartografía, líneas de tiempo, ilustraciones, glosario de términos técnicos y ampliaciones de información- que junto a un diseño moderno, ágil y conforme a los requerimientos pedagógicos que busca facilitan la lectura y comprensión. El presente manual abarca el período que corre desde el Virreinato del Río de la Plata hasta la etapa rosista. Sucesivos libros similares darán cuenta en un futuro próximo de la Historia Naval Argentina hasta nuestros días. Fil: Chalier, Gustavo Marcelo. Universidad Nacional del Sur. Departamento de Humanidades; Argentina. Fil: Folcher, Fernando. Universidad Nacional de Mar del Plata; Argentina. Fil: Izarra, Luciano. Universidad Nacional del Sur. Departamento de Humanidades; Argentina. Fil: Santos La Rosa, Mariano. Universidad Nacional del Sur. Departamento de Humanidades; Argentina. Fil: Venturini, Francesco. Teniente de Fragata. Armada; Argentina. Fil: Vilar, Gerardo. Teniente de Fragata. Armada; Argentina.

This study analyses the impact of knowledge assets on productivity and technical efficiency in the EU, as well as their role in the process of knowledge transfer. The analysis covers the role of the institutional and regulatory environment in affecting productivity and technical efficiency and how different regulations interact with both the accumulation of knowledge assets and the transfer of technology. Special emphasis is put on the analysis of trends and performance within the EU, across countries and sectors. The trends and performance of the EU at aggregate and sectoral levels are also contrasted with those of other major competitors, such as the United States, Japan or Korea. Further, the effects of the recent crisis on productivity and efficiency at firm level are explored.

In recent years, a large body of empirical research has investigated whether the predictions of secondgeneration growth models are consistent with actual data. This strand of literature has focused on the longrun properties of these models by using productivity and innovation data but has not directly assessed the effectiveness of R&D policy in promoting innovation and economic growth. In the present paper, we fill this gap in the literature by providing a unified growth setting that is empirically tested with US manufacturing industry data. Our analysis shows that R&D policy has a persistent, if not permanent, impact on the rate of economic growth and that the economy rapidly adjusts to policy changes. The impact of R&D tax credits on economic growth appears to be long lasting and statistically robust. Conversely, more generous R&D subsidies are associated with an increase in the rate of economic growth in the short run only, indicating that, at best, this policy instrument has only temporary effects. Overall, the evidence regarding the effectiveness of R&D policy provides more support for fully endogenous growth theory than for semi-endogenous growth theory.

This paper investigates the impact of off-shoring on specialisation via its effect on national endowments and productivity. We use different definition of off-shoring to properly capture international fragmentation of production, while controlling for countries‟ stocks of R&D and ICT capital. Using industry data for the US, Japan and Europe we show that while off-shoring of materials can benefit a wide range of industries, service and intra-industry off-shoring can decrease specialisation in high-tech industry, both within manufacturing and services. This effect can be compensated with increasing R&D investments.

This paper assesses Piketty's second fundamental law of capitalism to investigate patterns and determinants of wealth inequality over the last century and a half. We first discuss the foundations of this theory on the basis of the most popular growth models, and then perform a long-run regression analysis of wealth inequality using Piketty and Zucman's data and a new historical data set for the OECD countries covering the period since 1870 onwards. We find that the wealth-to-income ratio, β, is significantly related to the ratio between the saving rate, s, and the rate of income growth, g. The estimated coefficient for the s/g ratio ranges from 0.05 to 0.18, depending on the specification, while the theory predicts a unitary value. It is also shown that the wealth-to-income ratio responds to the variations in income growth much more than to variations in the saving rate.

This paper extends the analysis of the wealth–income ratio based on the neoclassical model in a Schumpeterian growth framework in which savings are channelled to both tangible and intangible capital investment. Using historical data for 21 OECD countries over the period 1860–2015, we find that the wealth–income ratio and, hence, wealth inequality, is negatively related to the rate of economic growth and positively related to the rates of investment in intangible and tangible assets, as predicted by the theory. Accounting for the innovation-induced counteracting growth effect on the wealth–income ratio, we show that the net effect of investment in intangibles on wealth inequality is positive. Our estimates suggest that intangibles have been a contributing factor in wealth inequality since 1860 and that the marked increase in the investment in intangible assets in the post–WWII period has been a significant driver of wealth inequality since the 1970s.

none 2 We assess the long-run growth effects of public policies to business R&D using data for US manufacturing industries and taking Schumpeterian growth theory as guideline. Our analysis indicates that R&D policy in the form of R&D tax credits fosters the rate of productivity growth over the long-term horizon. This effect is quantitatively important: increasing R&D tax credits by 10% raises the growth rate of labour productivity by 0.4% per year. We show that our findings are robust to controlling for several policy instruments, growth determinants and econometric issues. Moreover, the overall evidence is consistent with the predictions of second-generation fully-endogenous growth models. Minniti, Antonio; Venturini, Francesco Minniti, Antonio; Venturini, Francesco