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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 …
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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 …
Persistent link: https://www.econbiz.de/10011729188
With capital‐skill complementarity, the secular decline in the price of capital equipment due to equipment‐specific technological progress (ESTP) keeps pushing up the demand for skilled relative to unskilled labor and raising the skill premium. This paper quantitatively characterizes the...
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