Technical progress and real wage stagnation: theory and evidence from the U.S. steel industry

Over the past twenty years real wages have stagnated despite substantial technical progress. This runs contrary to the widespread belief that technological change increases real wages. This paper presents a theoretical model showing that technical progress could reduce wages. This hypothesis is then tested using data from the U.S. steel industry.

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Year of publication:	2004
Authors:	Alexander, Donald ; Neill, Jon
Published in:	Economics of Innovation and New Technology. - Taylor & Francis Journals, ISSN 1043-8599. - Vol. 13.2004, 1, p. 61-75
Publisher:	Taylor & Francis Journals
Subject:	Technical progress \| Wages \| Stagnation

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005269536