Capital Account Opening and Wage Inequality
نویسندگان
چکیده
منابع مشابه
Capital Account Opening and Wage Inequality
Opening the capital account allows financially constrained firms to raise capital from abroad. Since capital and skilled labor are relative complements, this increases the relative demand for skilled labor versus unskilled labor, leading to higher wage inequality. Using aggregate data and exploiting variation in the timing of capital account openings across 20 mainly European countries, I find ...
متن کاملJob Search, Human Capital and Wage Inequality
Job Search, Human Capital and Wage Inequality The objective of this paper is to construct and quantitatively assess an equilibrium search model with on-the-job search and general human capital accumulation. In the model workers enter the labour market with different abilities and firms differ in their productivities. Wages are dispersed because of search frictions and workers’ productivity diff...
متن کاملFirms’ Heterogeneity in Capital/Labor Ratios and Wage Inequality
This paper provides some empirical evidence and a theory of the relationship between residual wage inequality and the increasing dispersion of capital/labor ratios across ...rms. I document the increasing variance of capital/labor ratios across ...rms in the US labor market using Compustat data. I also show that the increase in the variance of capital/labor ratios across ...rms is related to th...
متن کاملFinancial Liberalization, Capital-skill Complementarity, and Wage Inequality∗
Financial liberalization should reduce borrowing constraints and increase capital demand according to theory. If production functions exhibit capital-skill complementarity, liberalization should increase the aggregate demand for skilled labor relative to unskilled labor, increasing wage inequality in equilibrium. This paper studies the effects of financial liberalization on inequality through t...
متن کاملCapital-Skill Complementarity and Rising Wage Inequality in the UK
The consensus in the literature investigating the causes of increased wage inequality in developed nations since 1980 is that skill-biased technical change is responsible for the widening of the wage distribution. A shortcoming in this literature is that technical change is commonly determined residually; that is, those changes in relative wages unexplained by other factors are attributed to ch...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Review of Financial Studies
سال: 2014
ISSN: 1465-7368,0893-9454
DOI: 10.1093/rfs/hhu088