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| Author: | Mendez, R. |
| Title: | Creative destruction and the rise of inequality |
| Journal: | Journal of Economic Growth
2002 : SEP, VOL. 7:3, p. 259-281 |
| Index terms: | Inequality Technology transfer Incentives International trade Labour turnover |
| Language: | eng |
| Abstract: | Common wisdom interprets the rise in inequality of the last two decades as the result of a skill-biased labour demand shift. This explanation does not account for two important observations: (1) within-group inequality has also markedly risen, and (2) the rise of inequality has been accompanied by a rise of the volatility of earningsThis paper argues that a dual labour market structure, where some workers are paid efficiency-wages can account for the empirical regularities, in the absence of skilled biased technological change. |
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