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The Demand-Supply-Demand Twist: How the Wage Structure Got More Convex

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  • Chiara Binelli

    ()
    ( Oxford University, Nuffeld College)

Abstract

In the 1990s, in many countries, log wages became a more convex function of education: returns to college increased and returns to intermediate education declined. This paper argues that an important cause of this convexi cation was a two-stage demand-supply interaction: an increased demand for both sorts of educated workers stimulated a supply response; the increased supply of intermediate-educated further increased the demand for college-educated workers, because these two types of labour are complementary. This argument is supported by an empirical equilibrium model of savings and educational choices for Mexico, where the degree of convexi cation was ampli ed by loosening credit constraints.

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Bibliographic Info

Paper provided by The Rimini Centre for Economic Analysis in its series Working Paper Series with number 48_09.

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Date of creation: Jan 2009
Date of revision: Jan 2009
Handle: RePEc:rim:rimwps:48_09

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Related research

Keywords: Wage Inequality; Human Capital; Empirical Equilibrium Model; Latin America;

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Cited by:
  1. Vincenzo Caponi, 2011. "Intergenerational Transmission Of Abilities And Self‐Selection Of Mexican Immigrants," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(2), pages 523-547, 05.
  2. Andrea Canidio, 2012. "The Determinants of Long-Run Inequality," CEU Working Papers 2012_10, Department of Economics, Central European University, revised 20 Mar 2012.
  3. Chiara Binelli & Orazio Attanasio, 2010. "Mexico in the 1990s: the Main Cross-Sectional Facts," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(1), pages 238-264, January.

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