Risk aversion and rising wage inequality
We propose a model in which, as incomes grow, workers become less risk-averse and move from ﬁxed-wage contracts to variable pay. This can explain the recent increase in wage dispersion between groups, within groups, and over the lifecycle.
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|Date of creation:||Sep 2002|
|Date of revision:|
|Publication status:||Published in Economics Letters, 2002, Vol. 77, no. 1|
|Contact details of provider:|| Web page: http://www.dauphine.fr/en/welcome.html|
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- André Masson & Luc Arrondel, 1996. "Gestion du risque et comportements patrimoniaux," Économie et Statistique, Programme National Persée, vol. 296(1), pages 63-89.
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Economics Papers from University Paris Dauphine
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Cahiers de recherche
9906, Université Laval - Département d'économique.
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- Finis Welch, 1999. "In Defense of Inequality," American Economic Review, American Economic Association, vol. 89(2), pages 1-17, May.
- Peter Gottschalk & Robert Moffitt, 1994. "The Growth of Earnings Instability in the U.S. Labor Market," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 25(2), pages 217-272.
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