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Skill Biased Technological Change And Rising Wage Inequality
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Book Synopsis Skill Biased Technological Change and Rising Wage Inequality by : David Edward Card
Download or read book Skill Biased Technological Change and Rising Wage Inequality written by David Edward Card and published by . This book was released on 2002 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise in wage inequality in the U.S. labor market during the 1980s is usually attributed to skill-biased technical change (SBTC), associated with the development of personal computers and related information technologies. We review the evidence in favor of this hypothesis, focusing on the implications of SBTC for economy-wide trends in wage inequality, and for the evolution of wage differentials between various groups. A fundamental problem for the SBTC hypothesis is that wage inequality stabilized in the 1990s, despite continuing advances in computer technology. SBTC also fails to explain the closing of the gender gap, the stability of the racial wage gap, and the dramatic rise in education-related wage gaps for younger versus older workers. We conclude that the SBTC hypothesis is not very helpful in understanding the myriad shifts in the structure of wages that have occurred over the past three decades
Book Synopsis Skill biased technological change and rising wage inequality by : David Card
Download or read book Skill biased technological change and rising wage inequality written by David Card and published by . This book was released on 2002 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Race between Education and Technology by : Claudia Goldin
Download or read book The Race between Education and Technology written by Claudia Goldin and published by Harvard University Press. This book was released on 2009-07-01 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.
Book Synopsis Does the Sector Bias of Skill-biased Technical Change Explain Changing Wage Inequality? by : Jonathan Haskel
Download or read book Does the Sector Bias of Skill-biased Technical Change Explain Changing Wage Inequality? written by Jonathan Haskel and published by . This book was released on 1998 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether the sector bias of skill-biased technical change (sbtc) explains changing skill premia within countries in recent decades. First, using a two-factor, two-sector, two-country model we demonstrate that in many cases it is the sector bias of sbtc that determines sbtc's effect on relative factor prices, not its factor bias. Thus, rising (falling) skill premia are caused by more extensive sbtc in skill-intensive (unskill-intensive) sectors. Second, we test the sector-bias hypothesis using industry data for many countries in recent decades. An initial consistency check strongly supports the hypothesis. Among ten countries we find a strong correlation between changes in skill premia and the sector bias of sbtc during the 1970s and 1980s. The hypothesis is also strongly supported by more structural estimation on U.S. and U.K. data of the economy-wide wage changes mandated' to maintain zero profits in all sectors in response to the sector bias of sbtc. The suggestive mandated-wage estimates match the direction of actual wage changes in both countries during both the 1970s and the 1980s. Thus, the empirical evidence strongly suggests that the sector bias of sbtc can help explain changing skill premia.
Book Synopsis Skill Biased Technological Change and Endogenous Benefits by : Matthias Weiss
Download or read book Skill Biased Technological Change and Endogenous Benefits written by Matthias Weiss and published by . This book was released on 2012 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we study the effect of skill-biased technological change on unemployment when benefits are linked to the evolution of average income and when this is not the case. In the former case, an increase in the productivity of skilled workers and hence their wage leads to an increase in average income and hence in benefits. The increased fallback income, in turn, makes unskilled workers ask for higher wages. As higher wages are not justified by respective productivity increases, unemployment rises. More generally, we show that skill-biased technological change leads to increasing unemployment of the unskilled when benefits are endogenous. The model provides a theoretical explanation for diverging developments in wage inequality and unemployment under different social benefits regimes: Analyzing the social legislation in 14 countries, we find that benefits are linked to the evolution of average income in Continental Europe but not in the U.S. and the UK. Given this institutional difference, our model predicts that skill-biased technological change leads to rising unemployment in Continental Europe and rising wage inequality in the U.S. and the UK.
Book Synopsis Inequality and the Labor Market by : Sharon Block
Download or read book Inequality and the Labor Market written by Sharon Block and published by Brookings Institution Press. This book was released on 2021-04-06 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring a new agenda to improve outcomes for American workers As the United States continues to struggle with the impact of the devastating COVID-19 recession, policymakers have an opportunity to redress the competition problems in our labor markets. Making the right policy choices, however, requires a deep understanding of long-term, multidimensional problems. That will be solved only by looking to the failures and unrealized opportunities in anti-trust and labor law. For decades, competition in the U.S. labor market has declined, with the result that American workers have experienced slow wage growth and diminishing job quality. While sluggish productivity growth, rising globalization, and declining union representation are traditionally cited as factors for this historic imbalance in economic power, weak competition in the labor market is increasingly being recognized as a factor as well. This book by noted experts frames the legal and economic consequences of this imbalance and presents a series of urgently needed reforms of both labor and anti-trust laws to improve outcomes for American workers. These include higher wages, safer workplaces, increased ability to report labor violations, greater mobility, more opportunities for workers to build power, and overall better labor protections. Inequality in the Labor Market will interest anyone who cares about building a progressive economic agenda or who has a marked interest in labor policy. It also will appeal to anyone hoping to influence or anticipate the much-needed progressive agenda for the United States. The book's unusual scope provides prescriptions that, as Nobel Laureate Joseph Stiglitz notes in the introduction, map a path for rebalancing power, not just in our economy but in our democracy.
Book Synopsis Trade Unions and Collective Bargaining by : Harry Charles Katz
Download or read book Trade Unions and Collective Bargaining written by Harry Charles Katz and published by World Bank Publications. This book was released on 1993 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Labor Economics by : Orley Ashenfelter
Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 1999-11-18 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the continually evolving field of labour economics.
Book Synopsis Looking Back, Looking Ahead by : Thomas Michael Steger
Download or read book Looking Back, Looking Ahead written by Thomas Michael Steger and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In his paper ''Looking Back, Looking Ahead: Biased Technological Change, Substitution and the Wage Gap'' Theo van de Klundert employs a two-goods, two-factors general equilibrium model, applying the powerful "hat calculus technique" introduced by Meade (1961), to study the determinants of the wage gap. The main result is summarized by his Eq. (18), which shows that the change in the wage gap can be decomposed into four components: (i) the effect due to changes in the relative factor supply; (ii) the effect due to factor-biased technological change; (iii) the effect due to a change in goods demand resulting from income growth; and (iv) the effect due to a change in goods demand resulting from goods substitution. This kind of analysis is very important and truly instructive. The recent literature on the wage gap (or the skill premium) has offered a bunch of explanations for the observation of rising wage inequality in the USA over the period 1960-1990. However, the interplay between sectoral change driven by technological factors and sectoral change driven by preferences has hardly been discussed in this context. This is surprising to the extent that there are a number of models on sectoral change and economic growth, which could be used to investigate the importance of preferences and technological factors for the evolution of the skill premium (e.g. Kongsamut et al., 2001; Foellmi and Zweimueller, 2006). My main point is to illustrate that van de Klundert's (2007) contribution is not only instructive when it comes to understanding the economic forces behind the rise in the skill premium. It also has the potential to explain an important and widely recognized empirical regularity on the evolution of the skill premium. This is expressed, for instance, by Hornstein et al. (2006, p. 6) who notice that "... the time series for inequality over the past 100 years is 'U-shaped'" when surveying the recent literature on wage inequality in the USA.
Book Synopsis Ability Biased Technological Transition, Wage Inequality and Growth by : Oded Galor
Download or read book Ability Biased Technological Transition, Wage Inequality and Growth written by Oded Galor and published by . This book was released on 1998 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Skill Biased Technological and Rising Wage Inequality by : David Edward Card
Download or read book Skill Biased Technological and Rising Wage Inequality written by David Edward Card and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Implications of Skill-biased Technological Change by : Eli Berman
Download or read book Implications of Skill-biased Technological Change written by Eli Berman and published by . This book was released on 1997 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demand for less skilled workers decreased dramatically in the US and in other developed countries over the past two decades. We argue that pervasive skill-biased technological change rather than increased trade with the developing world is the principal culprit. The pervasiveness of this technological change is important for two reasons. First, it is an immediate and testable implication of technological change. Second, under standard assumptions, the more pervasive the skill-biased technological change the greater the increase in the embodied supply of less skilled workers and the greater the depressing effect on their relative wages through world goods prices. In contrast, in the Heckscher-Ohlin model with small open economies, the skill-bias of local technological changes does not affect wages. Thus, pervasiveness deals with a major criticism of skill-biased technological change as a cause. Testing the implications of pervasive, skill-biased technological change we find strong supporting evidence. First, across the OECD, most industries have increased the proportion of skilled workers employed despite rising or stable relative wages. Second, increases in demand for skills were concentrated in the same manufacturing industries in different developed countries.
Book Synopsis Skill-Biased Technological Change by : Matthias Weiss
Download or read book Skill-Biased Technological Change written by Matthias Weiss and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a model in which perpetual skill-biased technological change does not lead to ever increasing wage inequality. The model is consistent with the increase in wage inequality in the 1980s and the subsequent stabilization in the 1990s.
Book Synopsis The Impact of International Trade on Wages by : Robert C. Feenstra
Download or read book The Impact of International Trade on Wages written by Robert C. Feenstra and published by University of Chicago Press. This book was released on 2008-04-15 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the early 1980s, the U.S. economy has experienced a growing wage differential: high-skilled workers have claimed an increasing share of available income, while low-skilled workers have seen an absolute decline in real wages. How and why this disparity has arisen is a matter of ongoing debate among policymakers and economists. Two competing theories have emerged to explain this phenomenon, one focusing on international trade and labor market globalization as the driving force behind the devaluation of low-skill jobs, and the other focusing on the role of technological change as a catalyst for the escalation of high-skill wages. This collection brings together innovative new ideas and data sources in order to provide more satisfying alternatives to the trade versus technology debate and to assess directly the specific impact of international trade on U.S. wages. This timely volume offers a thorough appraisal of the wage distribution predicament, examining the continued effects of technology and globalization on the labor market.
Book Synopsis Skill-biased Technical Change and Wage Inequality by : Anya Petra Hageman
Download or read book Skill-biased Technical Change and Wage Inequality written by Anya Petra Hageman and published by . This book was released on 1997 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Unequal We Stand by : Jonathan Heathcote
Download or read book Unequal We Stand written by Jonathan Heathcote and published by DIANE Publishing. This book was released on 2010-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors conducted a systematic empirical study of cross-sectional inequality in the U.S., integrating data from various surveys. The authors follow the mapping suggested by the household budget constraint from individual wages to individual earnings, to household earnings, to disposable income, and, ultimately, to consumption and wealth. They document a continuous and sizable increase in wage inequality over the sample period. Changes in the distribution of hours worked sharpen the rise in earnings inequality before 1982, but mitigate its increase thereafter. Taxes and transfers compress the level of income inequality, especially at the bottom of the distribution, but have little effect on the overall trend. Charts and tables. This is a print-on-demand publication; it is not an original.
Book Synopsis Trade and Technology as Competing Explanations for Rising Inequality by : Wolf-Heimo Grieben
Download or read book Trade and Technology as Competing Explanations for Rising Inequality written by Wolf-Heimo Grieben and published by Peter Lang Pub Incorporated. This book was released on 2003 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the late 1970s, wage inequality between skilled and unskilled workers has risen significantly in most OECD countries. This study thoroughly discusses and evaluates the three dominant approaches to explain this finding: trade liberalization towards developing countries, skill-biased technical change, and trade-induced skill-biased technical change. In particular, the author develops a two-country North-South Schumpeterian growth model without scale effects, and analyzes general equilibrium effects of trade, education and labor market policies. Moreover, this framework is also used to analyze whether rising low-skilled unemployment in Europe is just the flip side of the coin of rising wage inequality in the US.
