| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13096 |
| 来源ID | Working Paper 13096 |
| Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis | |
| Fatih Guvenen; Burhanettin Kuruscu | |
| 发表日期 | 2007-05-11 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | In this paper we present an analytically tractable overlapping generations model of human capital accumulation, and study its implications for the evolution of the U.S. wage distribution from 1970 to 2000. The key feature of the model, and the only source of heterogeneity, is that individuals differ in their ability to accumulate human capital. Therefore, wage inequality results only from differences in human capital accumulation. We examine the response of this model to skill-biased technical change (SBTC) theoretically. We show that in response to SBTC, the model generates behavior consistent with several features of the U.S. data including (i) a rise in overall wage inequality both in the short run and long run, (ii) an initial fall in the education premium followed by a strong recovery, leading to a higher premium in the long run, (iii) the fact that most of this fall and rise takes place among younger workers, (iv) a rise in within-group inequality, (v) stagnation in median wage growth (and a slowdown in aggregate labor productivity), and (vi) a rise in consumption inequality that is much smaller than the rise in wage inequality. These results suggest that the heterogeneity in the ability to accumulate human capital is an important feature for understanding the effects of SBTC, and interpreting the transformation that the U.S. economy has gone through since the 1970's. |
| 主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand ; Labor Compensation |
| URL | https://www.nber.org/papers/w13096 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570764 |
| 推荐引用方式 GB/T 7714 | Fatih Guvenen,Burhanettin Kuruscu. Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13096.pdf（420KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
