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Labor heterogeneity, inequality and institutional change

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  • Peter Skott

    () (University of Massachusetts Amherst)

Abstract

US earnings inequality has increased dramatically since the 1970s, and the prospect of a reversal depends on what caused the trend. The standard explanation emphasizes skill-biased technical change. This paper briefly considers some aggregation issues and then proceeds to outline two alternative perspectives .power biased technical change and the effects of induced mismatch in the labor market .and their implications. JEL Categories: J31, J41, O33

Suggested Citation

  • Peter Skott, 2010. "Labor heterogeneity, inequality and institutional change," UMASS Amherst Economics Working Papers 2010-09, University of Massachusetts Amherst, Department of Economics.
  • Handle: RePEc:ums:papers:2010-09
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    File URL: http://www.umass.edu/economics/publications/2010-09.pdf
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    References listed on IDEAS

    as
    1. DiNardo, John & Fortin, Nicole M & Lemieux, Thomas, 1996. "Labor Market Institutions and the Distribution of Wages, 1973-1992: A Semiparametric Approach," Econometrica, Econometric Society, vol. 64(5), pages 1001-1044, September.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    inequality; power-biased technological change; minimum wages; overeducation; mismatch; efficiency wage; aggregation.;

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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