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When types of workers are imperfect substitutes, the Mincerian rate to return to human capital is negatively related to the supply of human capital. We work out a simple model for the joint evolution of output and wage dispersion. We estimate this model using cross-country panel data on GDP and...
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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
When types of workers are imperfect substitutes, the Mincerian rate of return to human capital is negatively related to the supply of human capital. We work out a simple model for the joint evolution of output and wage dispersion. We estimate this model using cross-country panel data on GDP and...
Persistent link: https://www.econbiz.de/10011408972
When types of workers are imperfect substitutes, the Mincerian rate of return to human capital is negatively related to the supply of human capital. We work out a simple model for the joint evolution of output and wage dispersion. We estimate this model using cross-country panel data on GDP and...
Persistent link: https://www.econbiz.de/10013320636
above the primary level is that the rich take up most education, so a subsidy would increase inequality. We show that there …, pre-tax income inequality decreases.We consider a Walrasian world with perfect capital and insurance markets. Hence, in …
Persistent link: https://www.econbiz.de/10011317437