This paper studies the evolution of three historical time series on skill premiums in the United States during the major part of the 19th and 2oth century. A descriptive analysis leads us to asses the existence of a systematic relation between the series and the inflation rate, pointing towards the presence of a strong rigidity in the wages of skilled workers.
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Paper provided by European University Institute in its series Economics Working Papers with number
eco97/25.
Length: 49 pages Date of creation: 1997 Date of revision: Handle: RePEc:eui:euiwps:eco97/25
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Find related papers by JEL classification: C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General N31 - Economic History - - Labor and Consumers, Demography, Education, Income, and Wealth - - - U.S.; Canada: Pre-1913 N10 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - General, International, or Comparative