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| Author: | Acemoglu, D. |
| Title: | Cross-country inequality trends |
| Journal: | Economic Journal
2003 : FEB, VOL. 113:485, p. F121-F149 |
| Index terms: | Pay differentials Inequality Male workers Skilled workers Country comparisons Europe USA |
| Language: | eng |
| Abstract: | The author reviews the two most popular explanation for the differential trends in wage inequality in U.S, U.K. and Europe: that relative supply of skills increased faster in Europe, and that European labour market institutions prevented inequality from increasing. Although these explanations go some way towards accounting for the differential cross-country inequality trends, it also appears that relative demand for skills increased differentially across countries. The author develops a simple theory where labour market insitutions creating wage compression in Europe also encourage more investment in technologies increasing the productivity of less-skilled workers, implying less skill-biased technical change in Europe than the U.S. |
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