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Our final article looks at the difference in wages between high-skill workers (such as those who might work in biotech) and low-skill workers. This skill premium has increased dramatically over the past 30 years. Although economists are still debating the causes of this increase, it seems likely...
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In this paper, we construct a parsimonious overlapping-generations model of human capital accumulation and study its quantitative implications for the evolution of the U.S. wage distribution from 1970 to 2000. A key feature of the model is that individuals differ in their ability to accumulate...
Persistent link: https://www.econbiz.de/10004967521
much to shifts in economic fundamentals. A resurgence in productivity that began in the mid-1990s contributed to a sense of … 2007, when accumulating evidence of a slowdown in productivity helped dash expectations of further income growth and stifle …
Persistent link: https://www.econbiz.de/10004967537
financial assets are the productivity shock as the sole factor together with the capital stock and lagged Solow residual … (productivity level) as conditioning variables. Standard GMM estimation finds that our model improves on the complementary … size premium from differences in the unconditional sensitivity to productivity shocks—small firms are more sensitive to …
Persistent link: https://www.econbiz.de/10004967652
If the presence of a union in a workplace or firm raises the pay level, unless productivity rises correspondingly … senescence. Therefore the impact of unions on productivity, financial performance and investment is extremely important. This … to use theory to predict unambiguously any union effect on productivity because unions can both enhance and detract from …
Persistent link: https://www.econbiz.de/10004967697
Multifactor Productivity (MFP) are constructed, as we consider diverse combinations of inputs with capital, labour, electricity … determinants of MFP and Labour Productivity (LP) growth. We find that, on the one hand, there is some evidence of a positive … seem to be promoting productivity, whilst market concentration is exerting a negative influence on it. In sum, our results …
Persistent link: https://www.econbiz.de/10004967929
. The findings suggest that significant differences in productivity levels between the formal and informal sectors could … exist. This, in turn, might imply that the economy's aggregate productivity could be affected by the increase of the share …
Persistent link: https://www.econbiz.de/10004967930