Journal
MACROECONOMIC DYNAMICS
Volume 24, Issue 4, Pages 882-919Publisher
CAMBRIDGE UNIV PRESS
DOI: 10.1017/S1365100518000524
Keywords
Network Effects; Technological-Knowledge Bias; Skill Premium; Economic Growth
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Funding
- FCT, Portugal [POCI-01-0145-FEDER-006890]
- FEDER/COMPETE 2020 [UID/ECO/04007/2013, POCI-01-0145-FEDER-007659]
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Even for the standard skill-biased technological change (SBTC) literature, the generic rise in the skill premium in the face of the relative increase in skilled workers since the 1980s seems a little puzzling. We develop a general equilibrium SBTC growth model that allows the dominance of either the price channel or the market-size channel mechanism through which network spillovers affect the technological-knowledge bias and, thus, the paths of intra-country wage inequality. The proposed mechanisms can accommodate facts not explained by the earlier literature.
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