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Globalization, Technical Change, and the Skill Premium : Magnification Effects from Human-Capital Investments

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Author Info
Jürgen Meckel () (Department of Economics, University of Konstanz)
Benjamin Weigert () (Department of Economics, University of Konstanz)

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Abstract

This paper shows that endogenous adjustments in the composition of labor supplies magnify the effects of changes in commodity prices on the measured skill premium under quite plausible conditions. These composition effects arise from decisions of individuals with heterogeneous inherent abilities about acquiring human capital. They reinforce the well-known Stolper-Samuelson effect on the measured skill premium in countries with a sufficiently high relative supply of skilled labor, but compensate them otherwise. As a result, the model can account for the observation of a worldwide increase in the skill premium during the last two decades.

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Publisher Info
Paper provided by Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim in its series Working Papers of the Research Group Heterogenous Labor with number 03-04.

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Length: 32 pages
Date of creation: 26 May 2032
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Handle: RePEc:knz:hetero:0304

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Related research
Keywords: Wage inequality ; globalization ; technical change;

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Find related papers by JEL classification:
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

References listed on IDEAS
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  1. Feenstra, R.C. & Hanson, G.H., 1995. "Foreign Investment, Outsourcing and Relative Wages," Department of Economics 95-14, California Davis - Department of Economics.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Christian Lumpe & Benjamin Weigert, 2004. "Immigration, Education and Labour Market Institutions," Working Papers of the Research Group Heterogenous Labor 04-14, Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim. [Downloadable!]
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This page was last updated on 2009-11-13.

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