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Author: | Krusell, P. |
Title: | Capital-skill complementarity and inequality: a macroeconomic analysis |
Journal: | Econometrica
2000 : SEP, VOL. 68:5, p. 1029-1054 |
Index terms: | TECHNOLOGICAL CHANGE PAY INEQUALITY |
Language: | eng |
Abstract: | The supply and price of skilled labour relative to unskilled labor have changed dramatically over the postwar period. The relative quantity of skilled labor has increased substantially, and the skill premium, which is the wage of skilled labor relative to that of unskilled labour, has grown significantly since 1980. Many studies have found that accounting for the increase in the skill premium on the basis of observable variables is difficult and have concluded implicitly that latent skill-biased technological change must be the main factor responsible. |
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