2006, English, Article, Working paper edition: Investment-specific technological change, skill accumulation, and wage inequality [electronic resource] / Hui He and Zheng Liu. He, Hui.

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Published
  • [Minneapolis, MN] : Federal Reserve Bank of Minneapolis, Research Dept., [2006]
Language
  • English

Edition details

Title
  • Investment-specific technological change, skill accumulation, and wage inequality /​ Hui He and Zheng Liu.
Author
  • He, Hui.
Other Authors
  • Liu, Zheng, 1966-
  • Federal Reserve Bank of Minneapolis. Research Dept.
Published
  • [Minneapolis, MN] : Federal Reserve Bank of Minneapolis, Research Dept., [2006]
Medium
  • [electronic resource]
Series
Summary
  • Wage inequality between education groups in the United States has increased substantially since the early 1980s. The relative quantity of college-educated workers has also increased dramatically in the postwar period. This paper presents a unified framework where the dynamics of both skill accumulation and wage inequality arise as an equilibrium outcome driven by measured investment specific technological change. Working through capital-skill complementarity and endogenous skill accumulation, the model is able to account for much of the observed changes in the relative quantity of skilled workers. The model also does well in replicating the observed rise in wage inequality since the early 1980s. Based on the calibrated model, we examine the quantitative effects of some hypothetical tax-policy reforms on skill formation, inequality, and welfare.
Notes
  • Title from PDF file (viewed on Sept. 26, 2006).
  • "August 2006."
  • Includes bibliographical references.
  • Also available in print.
Technical Details
  • System requirements: Adobe Acrobat Reader
  • Mode of access: World Wide Web
Language
  • English
Libraries Australia ID
Contributed by
Libraries Australia

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