Wage Risk and The Skill Premium
نویسندگان
چکیده
Abstract The skill premium has increased significantly in the United States last five decades. During same period, individual wage risk also increased. This paper proposes a mechanism through which rise increases premium. Intuitively, uninsured precautionary savings, thereby boosting capital accumulation, due to capital-skill complementarity. Using quantitative macroeconomic model, we find that observed between 1967 and 2010 significantly. finding is robust across variety of model specifications.
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 2022
ISSN: ['1742-0350', '0013-0133', '1468-0297']
DOI: https://doi.org/10.1093/ej/ueac015