全球智库信息集成服务系统(G2TT): DP5088 The Real Effect of Banking Crises

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP5088
	DP5088 The Real Effect of Banking Crises
	Enrica Detragiache; Raghuram Rajan; Giovanni Dell'Ariccia
发表日期	2005-05-23
出版年	2005
语种	英语
摘要	In this chapter we inspect economic mechanisms through which technological progress shapes the degree of inequality among workers in the labour market. A key focus is on the rise of US wage inequality over the past 30 years. However, we also pay attention to how Europe did not experience changes in wage inequality but instead saw a sharp increase in unemployment and an increased labour share of income, variables that remained stable in the US We hypothesize that these changes in labour market inequalities can be accounted for by the wave of capital-embodied technological change, which we also document. We propose a variety of mechanisms based on how technology increases the returns to education, ability, experience, and ?luck? in the labour market. We also discuss how the wage distribution may have been indirectly influenced by technical change through changes in certain aspects of the organization of work, such as the hierarchical structure of firms, the extent of unionization, and the degree of centralization of bargaining. To account for the US-Europe differences, we use a theory based on institutional differences between the United States and Europe, along with a common acceleration of technical change. Finally, we briefly comment on the implications of labour market inequalities for welfare and for economic policy.
主题	International Macroeconomics ; Labour Economics
关键词	Inequality Institutions Labour market Skills Technological change
URL	https://cepr.org/publications/dp5088
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/533980
推荐引用方式 GB/T 7714	Enrica Detragiache,Raghuram Rajan,Giovanni Dell'Ariccia. DP5088 The Real Effect of Banking Crises. 2005.