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Macroeconomic implications of shifts in the relative demand for skills

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  • Olivier Blanchard

Abstract

Besides widening wage inequality, if the demand for skills continues to increase it will probably reduce aggregate employment. Policy measures to offset the impact of increased demand for skills on wage inequality and employment would be very costly. Moreover, given local funding of primary and secondary education a sufficiently large supply response cannot be assumed.

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Bibliographic Info

Article provided by Federal Reserve Bank of New York in its journal Economic Policy Review.

Volume (Year): (1995)
Issue (Month): Jan ()
Pages: 48-53

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Handle: RePEc:fip:fednep:y:1995:i:jan:p:48-53:n:v.1.no.1

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Related research

Keywords: Education ; Labor supply ; Unemployment;

References

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  1. Katz, L.F. & Murphy, K.M., 1991. "Changes in Relative Wages, 1963-1987: Supply and Demand Factors," Harvard Institute of Economic Research Working Papers 1580, Harvard - Institute of Economic Research.
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Cited by:
  1. Norbert Berthold & Rainer Fehn & Eric Thode, 2002. "Falling Labor Share and Rising Unemployment: Long-Run Consequences of Institutional Shocks?," German Economic Review, Verein für Socialpolitik, vol. 3(4), pages 431-459, November.
  2. David A. Brauer, 1995. "Using regional variation to explain widening earnings differentials by educational attainment," Research Paper 9521, Federal Reserve Bank of New York.
  3. Klaus Waelde, 1996. "Lifetime learning, biased technological change and the evolution of wages in the U.S. 1960 - 1990," Labor and Demography 9601001, EconWPA.
  4. Willem Thorbeck, 1997. "Disinflationary Monetary Policy and the Distribution of Income," Macroeconomics 9711008, EconWPA.
  5. Berthold, Norbert & Fehn, Rainer, 1999. "Aggressive Lohnpolitik, überschießende Kapitalintensität und steigende Arbeitslosigkeit: können Investivlöhne für Abhilfe sorgen?," Wirtschaftswissenschaftliche Beiträge 28, Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik.
  6. Willem Thorebeck, 1998. "The Distributional Effects of Disinflationary Monetary Policy," Macroeconomics 9812002, EconWPA.
  7. Thorbecke, Willem, 2001. "Estimating the effects of disinflationary monetary policy on minorities," Journal of Policy Modeling, Elsevier, vol. 23(1), pages 51-66, January.
  8. Angelo Siddi, 2002. "L'evoluzione della divisione del lavoro in Italia nellÕepoca della new," Moneta e Credito, Economia civile, vol. 55(220), pages 387-413.

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