Looking back, looking ahead: Biased technological change, substitution and the wage gap |
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| Authors: | Theo van de Klundert |
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| Affiliation: | aDepartment of Economics, Tilburg University P.O. Box 90153, 5000 LE Tilburg, The Netherlands |
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| Abstract: | The implications of ICT on wage inequality are studied by applying a CES production function with skilled and unskilled labour. Skill-biased technological change increases wage inequality. The result is reinforced in a two-sector general equilibrium model if the income elasticity of the demand for high-tech goods and the elasticity of substitution between final goods are larger than one. |
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| Keywords: | CES production function Skill-biased technological change Wage inequality Two-sector model |
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