A general purpose technology explains the Solow paradox and wage inequality

B. Jacobs; R. Nahuis

doi:10.1016/S0165-1765(01)00551-1

A general purpose technology explains the Solow paradox and wage inequality

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Abstract

We analyze the consequences of a general purpose technology (GPT) on output, productivity, and wages of skilled and unskilled workers. Our endogenous growth model matches three key empirical facts during the 1980s and 1990s: an increasing skill premium, a fall in the real wages of unskilled workers and a slowing down of economic growth after the introduction of a GPT. © 2002 Elsevier Science B.V. All rights reserved.

Original language	English
Pages (from-to)	243-250
Journal	Economics Letters
Volume	74
Issue number	2
DOIs	https://doi.org/10.1016/S0165-1765(01)00551-1
Publication status	Published - Jan 2002
Externally published	Yes

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AB - We analyze the consequences of a general purpose technology (GPT) on output, productivity, and wages of skilled and unskilled workers. Our endogenous growth model matches three key empirical facts during the 1980s and 1990s: an increasing skill premium, a fall in the real wages of unskilled workers and a slowing down of economic growth after the introduction of a GPT. © 2002 Elsevier Science B.V. All rights reserved.

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A general purpose technology explains the Solow paradox and wage inequality

Abstract

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