@TechReport{iza:izadps:dp4258,
            	author={Balleer, Almut and Rens, Thijs van},
            	title={Cyclical Skill-Biased Technological Change},
            	year={2009},
	month={Jun},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={4258},
            	url={https://www.iza.org/publications/dp4258},
	abstract={Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long run restrictions. We find that hours worked fall in response to skill-biased, but not in response to skill-neutral improvements in technology. Skill-biased technology shocks are associated with increases in the relative price of investment, indicating that capital and skill are substitutes in aggregate production.},
	keywords={long-run restrictions;skill premium;VAR;skill-biased technology;capital-skill complementarity;business cycle},
            }