Manual de Direito do Trabalho
Xavier, Bernardo da Gama Lobo
2011-01-01
Search results
12 records were found.
expectations; fluctuations; growth; learning-by-doing; innovations
technical progress; endogenous growth; unemployment; efficiency wages
To explain the rise in the college wage premium in developed economies in the past decades, the present paper examines the effects of technological progress on workers‘ effort incentives, which determine the effective labor supply. Five effort incentive effects of technological progress are identified, and through these we obtain a number of results. Firstly, we establish that wage inequality can increase following an acceleration in skill-neutral technological progress. Secondly, an increase in skill-biased technological progress means, (i) skilled wages overshoot, (ii) unskilled wages undershoot, and hence (iii) wage inequality overshoots their respective long-run values. Thirdly, endogenising the number of skilled and unskilled workers on the basis of economic incentives does not eliminate wage inequality even in the long run. Fou...
Endogenous growth, public consumption and investment, political uncertainty, panel regressions, OECD countries
