Hutter, Christian and Weber, Enzo (2023) Labour market effects of wage inequality and skill-biased technical change. APPLIED ECONOMICS, 55 (27). pp. 3063-3084. ISSN 0003-6846, 1466-4283
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This paper analyses the effects of wage inequality on labour market development. Relevant theories are ambiguous, just as public debates. We measure the effects of inequality, skill-biased and skill-neutral technical change on hours, productivity and wages in a novel structural vector error correction framework identified by economically motivated long-run restrictions. The results show that structural inequality shocks have a negative impact on hours, productivity and wages. These effects are particularly pronounced at high inequality levels and for inequality below the median wage. Skill-biased technology shocks reduce - unlike skill-neutral ones - hours but increase inequality, productivity and wages.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | TECHNOLOGICAL-CHANGE; INCOME INEQUALITY; POLITICAL INSTABILITY; ECONOMIC-GROWTH; UNEMPLOYMENT; EMPLOYMENT; RETURNS; DEMAND; Wage inequality; skill bias; technology shocks; productivity; hours; SVECM |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Empirische Wirtschaftsforschung, insbesondere Makroökonomie und Arbeitsmarkt (Prof. Dr. Enzo Weber) |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 21 Feb 2024 06:18 |
| Last Modified: | 21 Feb 2024 06:18 |
| URI: | https://pred.uni-regensburg.de/id/eprint/57569 |
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