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-biased technological progress and use cross-country panel data on inequality and GDP to test these ideas. A one-year increase in the level …
Persistent link: https://www.econbiz.de/10011325967
While the employment effects of minimum wages are usually reported to be small (suggesting low substitutability between skill types), direct estimates suggest a much larger degree of substitutability. This paper argues that this paradox is largely due to a bias induced by the aggregation of...
Persistent link: https://www.econbiz.de/10011299960
The paper applies Ricardo's principle of comparative advantage to analyze the substitutability between types of labor. The problem of having to classify labor in a small number of types in e.g. standard CES models are avoided by applying a continuum of worker and job types, where better skilled...
Persistent link: https://www.econbiz.de/10011301145
I apply Ricardo’s principle of comparative advantage to a theory of factor substitutability in a model with a continuum …
Persistent link: https://www.econbiz.de/10011327541
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