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Skill-Biased Technical Change and Wage Inequality: The U.S. versus Europe

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Author Info
Ryosuke Okazawa () (Graduate School of Economics, Kyoto University)

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Abstract

This paper analyzes the effect of the recent technical change on the labor market and explains the observed differences in wage inequality among advanced countries. In particular, we focus on the difference between the wage inequality in the U.S. and continental Europe. By introducing human capital investment into Acemoglu (1999)’s model, we show that ex ante homogeneous economies would have distinct ex post wage inequality. In addition, we show that the differences in tax or education system can explain the difference in wage inequality between the U.S. and Europe.

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File URL: http://www.kier.kyoto-u.ac.jp/DP/DP674.pdf
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Publisher Info
Paper provided by Kyoto University, Institute of Economic Research in its series KIER Working Papers with number 674.

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Length: 21pages
Date of creation: Apr 2009
Date of revision:
Handle: RePEc:kyo:wpaper:674

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Related research
Keywords: skill-biased technical change; wage inequality; human capital investment; matching;

Find related papers by JEL classification:
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search

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This page was last updated on 2009-10-21.

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