English, Article, Journal or magazine article edition: On the Evolution of Wage Inequality in Acemoglu’s Model of Directed Technical Change Matthias Weiss

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Bookmark: http://trove.nla.gov.au/version/68574
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • On the Evolution of Wage Inequality in Acemoglu’s Model of Directed Technical Change
Author
  • Matthias Weiss
Physical Description
  • preprint
Notes
  • RePEc:xrs:meawpa:05099
  • In Acemoglu's model of directed technical change (1998 in this Journal), the skill-premium increases in consequence of an increase in the relative supply of skilled labor. In this paper, I argue that other measures of wage inequality such as the Gini-coefficient do not necessarily rise as well. The Gini-coefficient depends positively on the skill-premium but the effect of an increase in the relative supply of skilled labor is ambiguous. A simulation of Acemoglu's model shows that the growth in the relative supply of skilled labor has led to increased wage inequality in the past but will lead to decreasing wage inequality in the future.
  • RePEc:mea:meawpa:05099
Language
  • English
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