GTAP Resources: Resource Display
| GTAP Resource #1686 |
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"Capital-Skill Complementarity and Rising Wage Inequality" by Winchester, Niven and David Greenaway Abstract Increased wage inequality has been a sensitive policy issue in OECD economies in recent decades. A shortcoming in the literature investigating its causes, especially with regard to the role of new technology, is that technical change is commonly determined residually. We address this limitation by specifying a computable general equilibrium (CGE) model that identifies four labour types and three capital assets. When capital assets are measured in efficiency units and there is capital-skill complementarity, we can explain a large component of the increase in UK wage inequality over the 1980-97 period in terms of changes in factor endowments. This result has implications for how policy makers might react to rising skill premiums. JEL classifications: O3, J31, D58 Keywords: Capital-skill complementarity, wage inequality, CGE modelling |
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Public Access  GTAP Resource 1686 (183.9 KB) Replicated: 0 time(s) GTAP Resource 1686 (183.9 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions No instructions have been specified. |
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Last Modified: 9/15/2023 2:05:45 PM
