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We develop an assignment model of automation. Each of a continuum of tasks of variable complexity is assigned to either capital or one of a continuum of labor skills. We characterize conditions for interior automation, whereby tasks of intermediate complexity are assigned to capital. Interior...
Persistent link: https://www.econbiz.de/10014496402
After a decade in which wages and employment fell precipitously in low-skill occupations and expanded in high-skill occupations, the shape of U.S. earnings and job growth sharply polarized in the 1990s. Employment shares and relative earnings rose in both low and high-skill jobs, leading to a...
Persistent link: https://www.econbiz.de/10005039640
The hypothesis is that Pareto and Kaldor-Hicks Efficiency have an aspect of sustainability in relation to inequality …. The analysis finds efficient situations reached increasing inequality as diminishing in the long term effective demand in …
Persistent link: https://www.econbiz.de/10008540106
1860s. According to new measures presented in this study, earnings inequality rose within the iron and steel industries … accounting appeared in the industry and grew in importance. Uncertainty explains the rise in inequality better than a skill bias … inequality come up with respect to recent information technology. …
Persistent link: https://www.econbiz.de/10005063038
Due to scarcity considerations an increase in the supply of college graduates should reduce the premium for this kind of qualification. Therefore it seems quite contradictory that a tremendous educational expansion in the USA is accompanied by rising wage dispersion (overall and between...
Persistent link: https://www.econbiz.de/10005187360
We offer an integrated explanation and empirical analysis of the polarization of U.S. employment and wages between 1980 and 2005, and the concurrent growth of low skill service occupations. We attribute polarization to the interaction between consumer preferences, which favor variety over...
Persistent link: https://www.econbiz.de/10011079230
'power-biased technical change' in this sense may generate rising inequality accompanied by an increase in both unemployment …
Persistent link: https://www.econbiz.de/10005533167
-biased technical change' in this sense may generate rising wage inequality accompanied by an increase in both the effort and …
Persistent link: https://www.econbiz.de/10010457012
-biased technical change' in this sense may generate rising wage inequality accompanied by an increase in both the effort and …
Persistent link: https://www.econbiz.de/10005533174
We show that U.S. manufacturing wages during the Great Depression were importantly determined by forces on firms' intensive margins. Short-run changes in work intensity and the longer-term goal of restoring full potential productivity combined to influence real wage growth. By contrast, the...
Persistent link: https://www.econbiz.de/10011412413