the productivity of skilled workers has risen to the unskilled, but it is not east to explain why aggregate labour … productivity was stagnant during the 1980s. This paper suggests an alternative story: introducing new goods involves a fixed labour …

that the productivity of skilled workers has risen relative to the unskilled, but it is not easy to explain why the … aggregate labour productivity was stagnant during the 1980s. Alternatively, I have constructed a theoretical model which assumes … that the demand for white-collar workers increases not because their productivity grows faster, but because increasing …