| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3648 |
| DP3648 Scale Effects in Markets with Search | |
| Christopher Pissarides; Barbara Petrongolo | |
| 发表日期 | 2002-11-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | Does capital-embodied technological change play an important role in shaping labour market inequalities? This Paper addresses the question in a model with vintage capital and search/matching frictions where costly capital investment leads to large heterogeneity in productivity among vacancies in equilibrium. The Paper first demonstrates analytically how both technology growth and institutional variables affect equilibrium wage inequality, income shares and unemployment. Next, it applies the model to a quantitative evaluation of capital as an origin of wage inequality: at the current rate of embodied productivity growth a 10-year vintage differential in capital translates into a 6% wage gap. The model also allows a US ? Continental Europe comparison: an embodied technological acceleration interacted with different labour market institutions can explain a significant part of the differential rise in unemployment and capital share and some of the differential dynamics in wage inequality. |
| 主题 | International Macroeconomics ; Labour Economics |
| 关键词 | Vintage capital Wage inequality Unemployment Labour share Vacancy heterogeneity |
| URL | https://cepr.org/publications/dp3648 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532656 |
| 推荐引用方式 GB/T 7714 | Christopher Pissarides,Barbara Petrongolo. DP3648 Scale Effects in Markets with Search. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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