different technologies that imperfectly compete in wages to attract these workers. Once employed, each worker bears an education … subsidy either the education cost or wages and compare them. We found that the first best allocation can only be implemented … firms and show that, in terms of welfare, subsidizing education costs or wages is strictly equivalent. …

different technologies that imperfectly compete in wages to attract these workers. Once employed, each worker bears an education … subsidy either the education cost or wages and compare them. We found that the first best allocation can only be implemented … firms and show that, in terms of welfare, subsidizing education costs or wages is strictly equivalent. …

advantage in the most complex tasks relative to capital, and because the wages of the least skilled workers are sufficiently low … relative to their productivity and the effective cost of capital in low-complexity tasks. Minimum wages and other sources of … higher wages at the bottom make interior automation less likely. Starting with interior automation, a reduction in the cost …

different technologies that imperfectly compete in wages to attract these workers. Once employed, each worker bears an education … subsidy either the education cost or wages and compare them. We found that the first best allocation can only be implemented … firms and show that, in terms of welfare, subsidizing education costs or wages is strictly equivalent …