KNOWLEDGE CAPITAL AND PRODUCTIVITY IN SPANISH INDUSTRY

This research is aimed at measuring the effects of firms’ knowledge capital stock changes in production, using the information provided by a panel of Spanish industrial firms. In order to assess the size of these effects depending upon the type of industry, we split the sample into two broad branches of business activity: Low and Medium-low (LML), and High and Medium-high (HMH) technological firms. Estimate outcomes show that the elasticity of output with respect to knowledge capital is always positive and significant. Moreover, the highest productivity gains derived from innovation are observed in High and Medium-high technological firms.

TRANSICIÓN Y PERSISTENCIA EN EL CICLO FORMAL-INFORMAL EN MÉXICO

This paper analyzes the role of human capital in the formal-informal transition of workers in Mexico. We create a dynamic pooled aligned panel of 44 quarters, using a series of quarterly panel data that follows each individual for 5 consecutive quarters, using the Mexican Employment Survey. Using this synthetic dataset we estimate a dynamic multinomial logit model and classify potential working force people in four labor states: formal, informal, unemployed, and outside the labor market. Our results show that: 1) persistence is greater in informality vs. formality, and 2) worker’s human capital plays an important role in formal-informal transitions. In particular, worker’s education not only increases the probability of being formal but also increases the probability of entering and/or remaining into formality.