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Earnings Inequality and Skill-Biased Technological Change with Endogenous Choice of Education

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  • Árpád Ábrahám

Abstract

This article analyzes the impact of stochastic skill-biased technological change on earnings inequality in a general equilibrium OLG model. Wage dispersion is determined by the heterogeneity of skills by allowing for productivity differences due to education, ability, and age. The model performs well in reproducing stylized facts on the time pattern of the U.S. wage distribution and human capital accumulation. In particular, it shows that slow adjustment of the supply of educated labor can itself explain the nonmonotonic time pattern of the college premium. (JEL: D31, J24, J31) (c) 2008 by the European Economic Association.

Suggested Citation

  • Árpád Ábrahám, 2008. "Earnings Inequality and Skill-Biased Technological Change with Endogenous Choice of Education," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 695-704, 04-05.
  • Handle: RePEc:tpr:jeurec:v:6:y:2008:i:2-3:p:695-704
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    Cited by:

    1. Uli KLEINWECHTER, "undated". "A Utility Function Based Approach Towards the Modeling of Migration in Village Equilibrium Models," EcoMod2010 259600092, EcoMod.

    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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