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This essay discusses the effect of technical change on wage inequality. I argue that the behavior of wages and returns to schooling indicates that technical change has been skill-biased during the past sixty years. Furthermore, the recent increase in inequality is most likely due to an...
Persistent link: https://www.econbiz.de/10012470950
supply and demand for skills by assuming two distinct skill groups that perform two different and imperfectly substitutable … complementing either high or low skill workers, can generate skill biased demand shifts. In this paper, we argue that despite its …
Persistent link: https://www.econbiz.de/10012462573
While the utopian vision of the current Information Age was that computerization would flatten economic hierarchies by democratizing information, the opposite has occurred. Information, it turns out, is merely an input into a more consequential economic function, decision-making, which is the...
Persistent link: https://www.econbiz.de/10014486232
We examine the link between labour market developments and new technologies such as artificial intelligence (AI) and software in 16 European countries over the period 2011- 2019. Using data for occupations at the 3-digit level in Europe, we find that on average employment shares have increased...
Persistent link: https://www.econbiz.de/10014322745
We study the impact of techies—engineers and other technically trained workers—on firm-level productivity. We first …-neutral productivity in both manufacturing and non-manufacturing industries. We find that techies raise firm-level productivity, and this … of techies on productivity operates mostly through ICT and other techies, not R&D workers. Engineers have a greater …
Persistent link: https://www.econbiz.de/10014348039
We construct a model of international trade and multinational production (MP) to examine the impact of globalization on the skill premium in skill-abundant and skill-scarce countries. The key mechanisms in our framework arise from the interaction between three elements: cross-country differences...
Persistent link: https://www.econbiz.de/10012462198
firm survey from the 1840s, we shed light on the mechanism: upper-tail knowledge raised productivity in innovative …
Persistent link: https://www.econbiz.de/10012458447
We study the impact of techies--engineers and other technically trained workers--on firm-level productivity. We first … structural econometric methods, we estimate the causal effect of techies on firm-level Hicks-neutral productivity in both … manufacturing and non-manufacturing industries. We find that techies raise firm-level productivity, and this effect goes beyond the …
Persistent link: https://www.econbiz.de/10014322729
time. A key question is, has the productivity distribution also spread out across worker skill levels over time? Using our … calculations of productivity by skill level for the U.S., we show that the distributions of both wages and productivity have spread … out over time, as the right tail lengthens for both. We add OECD countries, showing that the wage-productivity correlation …
Persistent link: https://www.econbiz.de/10013477226
This paper quantifies the roles of increases in the demand for skill-intensive output, the efficient scale of service … progress. The rising scale of services, the rising demand for skill-intensive output, and skill-biased technical change all …
Persistent link: https://www.econbiz.de/10012459289