Inflation,technological-knowledge bias,and wages |
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Institution: | 2. Department of Economics, Morgan State University, Baltimore, 10587, MD, USA;3. Lewis Honors College, University of Kentucky, 1120 University Dr., Lexington, 40526, Kentucky, USA |
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Abstract: | A detailed examination of wage data points to a wage polarization trend vis-à-vis the distribution of qualifications. Theoretically terms, this points to the need for modeling focused on the relevance of the direction of technological knowledge. To this end, we branched production into routine and non-routine tasks. In this way, the results produced positive relationships between the relative supply of skilled workers and the skill premium and between automation and wage polarization. |
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Keywords: | Directed technical change Automation Economic growth Skill premium Wage polarization |
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