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We construct a Dynamic Stochastic General Equilibrium model of the interaction between demography and the economy for …
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Technological change was unskilled-labor-biased during the early Industrial Revolution, but is skill-biased today. This is not embedded in extant unified growth models. We develop a model which can endogenously account for these facts, where factor bias reflects profit-maximizing decisions by...
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Technological change was unskilled-labor-biased during the early Industrial Revolution, but is skill-biased today. This is not embedded in extant unified growth models. We develop a model which can endogenously account for these facts, where factor bias reflects profit-maximizing decisions by...
Persistent link: https://www.econbiz.de/10012464163
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Our understanding of what constituted the industrial revolution has changed fundamentally in recent decades. Sir E. A. Wrigley, the leading historian of industrial England, here sets out to expose the inadequacy of what was once the received wisdom and to suggest what he believes should stand in...
Persistent link: https://www.econbiz.de/10012673346