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General Equilibrium Cost Benefit Analysis of Education and Tax Policies

Heckman, James J.; Lochner, Lance; Taber, Christopher - 2021

This paper formulates and estimates an open-economy overlapping generation general-equilibrium model of endogenous heterogeneous human capital in the form of schooling and on-the-job training. Physical capital accumulation is also analyzed. We use the model to explain rising wage inequality in...

Persistent link: https://www.econbiz.de/10013232148

Should Robots Be Taxed?

Guerreiro, João - 2017

Using a quantitative model that features technical progress in automation and endogenous skill choice, we show that …, given the current U.S. tax system, a sustained fall in automation costs can lead to a massive rise in income inequality. We …, optimal robot taxes are zero …

Persistent link: https://www.econbiz.de/10012948062

Trade, Income Inequality, and Government Policies : Redistribution of Income or Education Subsidies?

Janeba, Eckhard - 2021

This paper explores the role of government policies in a situation where the wage gap between high-skilled and low-skilled workers is widening due to increasing foreign competition in the manufacturing of low-skilled intensive goods. A two-period, two-sector general equilibrium model of a small...

Persistent link: https://www.econbiz.de/10013232894

Decomposing Wage Inequality Change Using General Equilibrium Models

Abrego, Lisandro E.; Whalley, John - 2021

This paper presents ex post decomposition analysis of wage inequality change using multi-sector general equilibrium models. The analytical structure used is a specific- factors model of trade, which we calibrate to UK data for the two years 1979 and 1975. We first calibrate our general...

Persistent link: https://www.econbiz.de/10013248534

Explaining Rising Wage Inequality : Explorations with a Dynamic General Equilibrium Model of Labor Earnings with Heterogeneous Agents

Heckman, James J.; Lochner, Lance; Taber, Christopher - 2021

This paper develops and estimates an overlapping generations general equilibrium model of labor earnings, skill formation and physical capital accumulation with heterogeneous human capital. The model analyzes both schooling choices and post-school on-the-job investment in skills in a framework...

Persistent link: https://www.econbiz.de/10013223876

Training and the Growth of Wage Inequality

Constantine, Jill Marie; Neumark, David - 2021

Shifts in the incidence of various types of training over the 1980s favored more-educated, more-experienced workers. Coupled with the fact that this training is associated with higher wages, these shifts suggest that training may have contributed to the growth of wage inequality in this period....

Persistent link: https://www.econbiz.de/10013224944

Taxation of Human Capital and Wage Inequality : A Cross-Country Analysis

Guvenen, Fatih; Kuruşçu, Burhanettin; Ozkan, Serdar - 2021

Wage inequality has been significantly higher in the United States than in continental European countries (CEU) since the 1970s. Moreover, this inequality gap has further widened during this period as the US has experienced a large increase in wage inequality, whereas the CEU has seen only...

Persistent link: https://www.econbiz.de/10013225025

Low-Skill and High-Skill Automation

Acemoglu, Daron - 2017

. Low-skill (high-skill) automation corresponds to tasks performed by low-skill (high-skill) labor being taken over by … capital. Automation displaces the type of labor it directly affects, depressing its wage. Through ripple effects, automation … also affects the real wage of other workers. Counteracting these forces, automation creates a positive productivity effect …

Persistent link: https://www.econbiz.de/10012941167

Comparable Worth in a General Equilibrium Model of the U.S. Economy

Beider, Perry C.; Bernheim, B. Douglas; Fuchs, Victor R.; … - 2021

This paper presents a computable general equilibrium model that simulates the effects on employment, output, wages, and economic efficiency of introducing comparable worth into the U.S. economy. The model calculates economy-wide aggregate impacts and disaggregated results for individuals grouped...

Persistent link: https://www.econbiz.de/10013239176

U.S. Wages in General Equilibrium : the Effects of Prices, Technology, and Factor Supplies, 1963-1991

Harrigan, James; Balaban, Rita A. - 2021

technology, prices, and factor supplies. The model is based on the neoclassical theory of production, and is implemented by …

Persistent link: https://www.econbiz.de/10013249551

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