The evolution of the U.S. skill premium over the past century has been characterized by a U-shaped pattern. The previous literature has attributed this observation mainly to the existence of exogenous, unexpected technological shocks or changes in institutional factors. In contrast, this paper...

The skill premium has increased significantly in the United States in the last five decades. During the same period, individual wage risk has also increased. This paper proposes a mechanism through which a rise in wage risk increases the skill premium. Intuitively, a rise in uninsured wage risk...

Based on observations that high-wage industries in 1980 experienced more evident job polarization between 1980 and 2009, we hypothesize that the persistent structure of interindustry wage differentials leads to heterogeneity in job polarization across industries; as the relative price of ICT...

Policymakers fear artificial intelligence (AI) will disrupt labor markets, especially for high-skilled workers. We investigate this concern using novel, task-specific data for security analysts. Exploiting variation in AI's power across stocks, we show analysts with portfolios that are more...

We evaluate the influence on the skill premium of the task content of jobs by exploiting the text data from online job ads covering 2009-2018 (over 189,000 ads) published by one of the leading Chilean online job portals (www.trabajando.com). Our analysis tests the expected complementarity...

This paper explores the impact of digital economy development on the wage gap between high- and low-skilled workers based on the China Family Panel Studies (CFPS) database in 2010-2020. The research results suggest that the higher the level of digital economy development, the larger the wage gap...

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...

The canonical supply-demand model of the wage returns to skill has been extremely influential; however, it has faced several important challenges. Several studies show that the standard approach sometimes produces theoretically wrong-signed elasticities of substitution, yields counterintuitive...

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...

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...