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Productivity and Wages : What Was the Productivity-Wage Link in the Digital Revolution of the Past, and What Might Occur in the AI Revolution of the Future?
Lazear, Edward P.; Shaw, Kathryn; Hayes, Grant E.; … - National Bureau of Economic Research - 2022
Wages have been spreading out across workers over time - or in other words, the 90th/50th wage ratio has risen over … calculations of productivity by skill level for the U.S., we show that the distributions of both wages and productivity have spread … exists, such that gains in aggregate productivity, or GDP per person, have resulted in higher wages for workers at the top …
Persistent link: https://www.econbiz.de/10013477226
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Productivity and Wages : Common Factors and Idiosyncrasies Across Countries and Industries
Lazear, Edward P. - 2019
-based explanations of wage changes consistent with increasing variance in wages as well as increases in mean wages as suggested by skill …
Persistent link: https://www.econbiz.de/10012480371
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Tenure and Output
Shaw, Kathryn - 2007
A key tenet of the theory of human capital is that investment in skills results in higher productivity. The previous literature has estimated the degree of investment in human capital for individuals by looking at individual wage growth as a proxy for productivity growth. In this paper, we have...
Persistent link: https://www.econbiz.de/10012464987
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Overconfidence and Occupational Choice
Lazear, Edward P. - 2016
A statistical theory of overconfidence is proposed and applied to the issue of occupational choice. Individuals who can choose whether to engage in an activity or not must estimate their performance. The estimates have error and that error has positive expectation among those who engage in the...
Persistent link: https://www.econbiz.de/10012456751
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Performance Pay and Productivity
Lazear, Edward P. - 1996
What happens when a firm switches from paying hourly wages to paying piece rates? The theory developed below predicts … worker-specific increase in productivity is passed on to workers in the form of higher wages …
Persistent link: https://www.econbiz.de/10012473170
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Outsourcing in a Global Economy
Grossman, Gene M. - 2002
We study the determinants of the location of sub-contracted activity in a general equilibrium model of outsourcing and trade. We model outsourcing as an activity that requires search for a partner and relationship-specific investments that are governed by incomplete contracts. The extent of...
Persistent link: https://www.econbiz.de/10012469987
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Income Distribution, Product Quality, and International Trade
Fajgelbaum, Pablo D. - 2009
We develop a framework for studying trade in vertically and horizontally differentiated products. In our model, consumers with heterogeneous incomes and tastes purchase a homogeneous good as well as making a discrete choice of quality and variety of a differentiated product. The distribution of...
Persistent link: https://www.econbiz.de/10012463321
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Growth and Welfare in A Small Open Economy
Grossman, Gene M. - 1989
We construct a model of growth based on endogenous technological change in a small, open economy. Entrepreneurs develop new intermediate products whenever the present value of potential profits exceeds the cost of R&D. Diversity of intermediates contributes to total factor productivity in the...
Persistent link: https://www.econbiz.de/10012476078
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Hiring Risky Workers
Lazear, Edward P. - 1995
ones. But market wages must adjust to make the marginal firm indifferent between high and low variance workers. The market …
Persistent link: https://www.econbiz.de/10012473535
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Dynamics of Markups, Concentration and Product Span
Helpman, Elhanan - 2020
We develop a model with a finite number of multi-product firms that populate an industry together with a continuum of single product firms, and study the dynamics of this industry that arises from investments in the invention of new products. Consistent with the available evidence, the model...
Persistent link: https://www.econbiz.de/10012481584