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To examine how human capital accumulation influences both economic growth and income inequality, we carefully endogenize the demand and supply of skills. We explicitly introduce the costs and externalities in education, and examine how both relate to learning-by-doing and R&D intensity. In...
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We analyze the effects of automation on the wages of high-skilled and low- skilled workers and thereby on the evolution of wage inequality. Our model explains the simultaneous presence of i) increasing per capita GDP, ii) de-clining real wages of low-skilled workers, and iii) an increasing...
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The object of this paper is to show how population growth, through its interaction with recent technological and organizational developments, can account for many of the cross-country differences in economic outcome observed among industrialized countries over the last 20 years. In particular,...
Persistent link: https://www.econbiz.de/10012470577
The object of this paper is to show how population growth, through its interaction with recent technological and organizational developments, can account for many of the cross-country differences in economic outcome observed among industrialized countries over the last 20 years. In particular,...
Persistent link: https://www.econbiz.de/10013234366
world’s population owns approximately 85% of the world’s wealth, much of it held just by the upper 1% of the global … population, whereas the “bottom” 92% of the world’s population hold somewhat less than 15% of global wealth (Burton J, 25 Highest … income earning countries. World Atlas; Economics, April 25. Retrieved March 23, 2018 from https://www.worldatlas.com/articles/the-highest-incomes-in-the-world …
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