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low wages (below two-thirds of the hourly median wage). Our analysis is based on quantitative data (using the GSOEP) and …
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low wages (below two-thirds of the hourly median wage). Our analysis is based on quantitative data (using the GSOEP) and …
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Wage Dispersion and Efficiency. It is often assumed that markets generate efficient allocations, but these are not necessarily fair. The widening of wage differentials that is currently observed is interpreted in this manner: Skill-biased technological progress increases demand for skilled work...
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