Hara, Naoko; Katayama, Munechika; Kato, Ryo - Bank of Japan - 2014
Empirical studies report a marked dispersion in skill-premium changes across economies over the past few decades … cases with a decline in the skill premium are yet to be explained. To this end, we develop a two-sector (i.e., manufacturing … both the aggregate and industry levels: (i) a decline in the skill premium, (ii) widening of the sectoral wage gap due to a …