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Human Capital, Unemployment and Relative Wages in a Global Economy

In: Trade, Investment, Migration and Labour Market Adjustment

Author

Listed:
  • Donald R. Davis

    (Columbia University and NBER)

  • Trevor A. Reeve

    (Board of Governors of the Federal Reserve System)

Abstract

Over the past 20 years both the American and the European labour markets have experienced serious problems. Yet the manifestations have been distinct. Europe has suffered high and persistent unemployment, reaching double digits in many countries. America has seen the skilled to unskilled wage premium rise sharply. From 1979 to 1989 the relative wage of a worker in the 90th percentile to one in the 10th percentile rose by 20 per cent (Freeman and Katz (1995)).

Suggested Citation

  • Donald R. Davis & Trevor A. Reeve, 2002. "Human Capital, Unemployment and Relative Wages in a Global Economy," International Economic Association Series, in: David Greenaway & Richard Upward & Katharine Wakelin (ed.), Trade, Investment, Migration and Labour Market Adjustment, chapter 2, pages 7-27, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-4039-2018-8_2
    DOI: 10.1057/9781403920188_2
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    Citations

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    Cited by:

    1. Sener, Fuat, 2006. "Labor market rigidities and R&D-based growth in the global economy," Journal of Economic Dynamics and Control, Elsevier, vol. 30(5), pages 769-805, May.
    2. Udo Kreickemeier, 2004. "Fair Wages and Human Capital Accumulation in a Global Economy," CESifo Working Paper Series 1185, CESifo.
    3. Udo Kreickemeier, 2009. "Trade, technology, and unemployment: the role of endogenous skill formation," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 42(2), pages 639-664, May.
    4. Meckl, Jürgen, 2005. "Are US Wages Really Determined by European Labor-Market Institutions?," IZA Discussion Papers 1817, Institute of Labor Economics (IZA).
    5. Adriana AnaMaria Davidescu & Simona-Andreea Apostu & Aurel Marin, 2021. "Forecasting the Romanian Unemployment Rate in Time of Health Crisis—A Univariate vs. Multivariate Time Series Approach," IJERPH, MDPI, vol. 18(21), pages 1-31, October.

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