search query: @author Smulders, S. / total: 3
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| Author: | Nahuis, R. Smulders, S. |
| Title: | The skill premium, technological change and appropriability |
| Journal: | Journal of Economic Growth
2002 : JUN, VOL. 7:2, p. 137-156 |
| Index terms: | Technological change Pay differentials R&D Research analysis |
| Language: | eng |
| Abstract: | The paper demonstrates that an increase in the relative supply of educated workers generates a structural change in the production structure towards a knowledge-intensive production process. The author argues that the steady increase in the supply of educated workers that most Western economies have experienced in recent decades may be viewed as the driving force behind the observed pattern of wage inequality. In particular, the paper demonstrates that if firms can appropriate a sufficient share of the intertemporal return from knowledge generating activities of their labour force, a gradual increase in the supply of skilled workers would generate only a temporary reduction in the skill premium follwed by a permanent increase in the return to skil. |
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