By J. Hellier, N. Chusseau
This publication explores the widening hole among the salary packets of expert and unskilled staff that has develop into a urgent factor for all states within the globalized international economic climate. evaluating the reviews of extra and no more constructed economies, chapters examine the underlying motives and key social adjustments that accompany source of revenue inequality.
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Additional info for Growing Income Inequalities: Economic Analyses
509 .. 524 .. 439 .. 3 The demand–supply–institution framework A supply-demand-institution framework (Freeman and Katz, 1994; Katz and Autor, 1999; Acemoglu, 1998, 2005; see also Introduction) is used to explain increasing wage and unemployment inequalities between skilled and unskilled workers. This approach considers a heterogeneous labour market with two types of labour – skilled and unskilled – within a neoclassical framework. e. a higher skill premium) may emanate from several factors modifying the relative demand or supply of skilled labour.
Let us ﬁrstly suppose an increase in the relative supply of skill that shifts from S1 to S2 . This corresponds to the skill upgrading observed in both the US 24 Nathalie Chusseau and Michel Dumont and Europe in the sixties and seventies. , less inequality. Suppose now an increase in demand that shifts from D1 up to D2 due to skill-biased technological change and/or North–South openness. Then, the equilibrium skill premium moves up to ωˆ 3 . If labour markets are competitive in the US, this induces full employment with a large increase in the skill premium and inequality, that shifts from ωˆ 2 to ωˆ 3 .
Brenton (1999b) ‘Outsourcing and Low-skilled Workers in the UK’, Bulletin of Economic Research 51(4), 267–85. , Fitzenberger, B. and U. ’, Journal of Economics and Statistics (Jahrbücher für Nationalökonomie und Statistik), 229(2 + 3), 214–38. Antonelli, C. and F. Quatraro (2010) ‘The Effects of Biased Technological Change on Total Factor Productivity: Empirical Evidence from a Sample of OECD Countries’, The Journal of Technology Transfer, 35(4), 361–83. Antonietti, R. and D. Antonioli (2011) ‘The Impact of Production Offshoring on the Skill Composition of Manufacturing Firms: Evidence from Italy’, International Review of Applied Economics, 25(1), 87–105.