The Resource Cross country inequality trends, Daron Acemoglu., (electronic resource)

Cross country inequality trends, Daron Acemoglu., (electronic resource)

Label
Cross country inequality trends
Title
Cross country inequality trends
Statement of responsibility
Daron Acemoglu.
Creator
Contributor
Provider
Language
eng
Summary
The economics profession has made considerable progress in understanding the increase in wage inequality in the U.S. and the UK over the past several decades, but currently lacks a consensus on why inequality did not increase, or increased much less, in (continental) Europe over the same time period. I review the two most popular explanations for these differential trends: that relative supply of skills increased faster in Europe, and that European labor market institutions prevented inequality from increasing. I argue that these two explanations go some way towards accounting for the differential cross-country inequality trends, but do not provide an entirely satisfactory explanation. In addition, it appears that relative demand for skills increased differentially across countries. Motivated by this reasoning, I develop a simple theory where labor market institutions creating wage compression in Europe also encourage more investment in technologies increasing the productivity of less-skilled workers, thus implying less skill-biased technical change in Europe than in the U.S. Keywords: Relative Supply of Skills, Returns to Education, Skill-Biased Technical Change, Technology Adoption, Wage Compression, Wage Inequality. JEL Classification: J30, J31
Member of
Additional physical form
Abstract in HTML and working paper for download in PDF available via World Wide Web at the Social Science Research Network.
Cataloging source
MYG
http://library.link/vocab/creatorName
Acemoglu, Daron
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • bibliography
  • technical reports
http://library.link/vocab/relatedWorkOrContributorName
  • Massachusetts Institute of Technology
  • Internet Archive
Series statement
Working paper series / Massachusetts Institute of Technology, Dept. of Economics
Series volume
working paper 02-14
Label
Cross country inequality trends, Daron Acemoglu., (electronic resource)
Instantiates
Publication
Note
"February 2002."; "February 7, 2002"--Abstract
Bibliography note
Includes bibliographical references (p. 31-34)
Dimensions
28 cm.
Extent
42 p.
Other physical details
ill.
Specific material designation
remote
System control number
  • (OCoLC)51765338
  • (CaSfIA)crosscountryineq00acem
  • (CaSfIA)001137710
Label
Cross country inequality trends, Daron Acemoglu., (electronic resource)
Publication
Note
"February 2002."; "February 7, 2002"--Abstract
Bibliography note
Includes bibliographical references (p. 31-34)
Dimensions
28 cm.
Extent
42 p.
Other physical details
ill.
Specific material designation
remote
System control number
  • (OCoLC)51765338
  • (CaSfIA)crosscountryineq00acem
  • (CaSfIA)001137710

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