Trends in U.S. wage inequality: re-assessing the revisionists
"A large literature documents a substantial rise in U.S. wage inequality and educational wage differentials over the past several decades and finds that these trends can be primarily accounted for by shifts in the supply of and demand for skills reinforced by the erosion of labor market institu...
Gespeichert in:
Hauptverfasser: | , , |
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Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2005
|
Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11627 |
Schlagworte: | |
Online-Zugang: | Volltext |
Zusammenfassung: | "A large literature documents a substantial rise in U.S. wage inequality and educational wage differentials over the past several decades and finds that these trends can be primarily accounted for by shifts in the supply of and demand for skills reinforced by the erosion of labor market institutions affecting the wages of low- and middle-wage workers. Drawing on an additional decade of data, a number of recent contributions reject this consensus to conclude that (1) the rise in wage inequality was an "episodic" event of the first-half of the 1980s rather than a secular phenomenon, (2) this rise was largely caused by a falling minimum wage rather than by supply and demand factors; and (3) rising residual wage inequality since the mid-1980s is explained by confounding effects of labor force composition rather than true increases in inequality within detailed demographic groups We reexamine these claims using detailed data from the Current Population Survey and find only limited support. Although the growth of overall inequality in the U.S. slowed in the 1990s, upper tail inequality rose almost as rapidly during the 1990s as during the 1980s. A decomposition applied to the CPS data reveals large and persistent rise in within-group earnings inequality over the past several decades, controlling for changes in labor force composition. While changes in the minimum wage can potentially account for much of the movement in lower tail earnings inequality, strong time series correlations of the evolution of the real minimum wage and upper tail wage inequality raise questions concerning the causal interpretation of such relationships We also find that changes in the college/high school wage premium appear to be well captured by standard models emphasizing rapid secular growth in the relative demand for skills and fluctuations in the rate of growth of the relative supply of college workers--though these models do not accurately predict the slowdown in the growth of the college/high-school gap during the 1990s. We conclude that these patterns are not adequately explained by either a 'unicausal' skill-biased technical change explanation or a revisionist hypothesis focused primarily on minimum wages and mechanical labor force compositional effects. We speculate that these puzzles can be partially reconciled by a modified version of the skill-biased technical change hypothesis that generates a polarization of skill demands"--National Bureau of Economic Research web site |
Beschreibung: | 37, [21] S. graph. Darst. |
Internformat
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490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 11627 | |
520 | 3 | |a "A large literature documents a substantial rise in U.S. wage inequality and educational wage differentials over the past several decades and finds that these trends can be primarily accounted for by shifts in the supply of and demand for skills reinforced by the erosion of labor market institutions affecting the wages of low- and middle-wage workers. Drawing on an additional decade of data, a number of recent contributions reject this consensus to conclude that (1) the rise in wage inequality was an "episodic" event of the first-half of the 1980s rather than a secular phenomenon, (2) this rise was largely caused by a falling minimum wage rather than by supply and demand factors; and (3) rising residual wage inequality since the mid-1980s is explained by confounding effects of labor force composition rather than true increases in inequality within detailed demographic groups | |
520 | 3 | |a We reexamine these claims using detailed data from the Current Population Survey and find only limited support. Although the growth of overall inequality in the U.S. slowed in the 1990s, upper tail inequality rose almost as rapidly during the 1990s as during the 1980s. A decomposition applied to the CPS data reveals large and persistent rise in within-group earnings inequality over the past several decades, controlling for changes in labor force composition. While changes in the minimum wage can potentially account for much of the movement in lower tail earnings inequality, strong time series correlations of the evolution of the real minimum wage and upper tail wage inequality raise questions concerning the causal interpretation of such relationships | |
520 | 3 | |a We also find that changes in the college/high school wage premium appear to be well captured by standard models emphasizing rapid secular growth in the relative demand for skills and fluctuations in the rate of growth of the relative supply of college workers--though these models do not accurately predict the slowdown in the growth of the college/high-school gap during the 1990s. We conclude that these patterns are not adequately explained by either a 'unicausal' skill-biased technical change explanation or a revisionist hypothesis focused primarily on minimum wages and mechanical labor force compositional effects. We speculate that these puzzles can be partially reconciled by a modified version of the skill-biased technical change hypothesis that generates a polarization of skill demands"--National Bureau of Economic Research web site | |
650 | 4 | |a Erziehung | |
650 | 4 | |a Education |x Economic aspects |z United States | |
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856 | 4 | 1 | |u http://papers.nber.org/papers/w11627.pdf |z kostenfrei |3 Volltext |
999 | |a oai:aleph.bib-bvb.de:BVB01-014594284 |
Datensatz im Suchindex
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author | Autor, David H. 1967- Katz, Lawrence F. 1959- Kearney, Melissa Schettini 1974- |
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geographic_facet | USA |
id | DE-604.BV021273196 |
illustrated | Illustrated |
index_date | 2024-07-02T13:45:07Z |
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institution | BVB |
language | English |
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physical | 37, [21] S. graph. Darst. |
publishDate | 2005 |
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series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
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spelling | Autor, David H. 1967- Verfasser (DE-588)131401416 aut Trends in U.S. wage inequality re-assessing the revisionists David H. Autor ; Lawrence F. Katz ; Melissa S. Kearney Cambridge, Mass. National Bureau of Economic Research 2005 37, [21] S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11627 "A large literature documents a substantial rise in U.S. wage inequality and educational wage differentials over the past several decades and finds that these trends can be primarily accounted for by shifts in the supply of and demand for skills reinforced by the erosion of labor market institutions affecting the wages of low- and middle-wage workers. Drawing on an additional decade of data, a number of recent contributions reject this consensus to conclude that (1) the rise in wage inequality was an "episodic" event of the first-half of the 1980s rather than a secular phenomenon, (2) this rise was largely caused by a falling minimum wage rather than by supply and demand factors; and (3) rising residual wage inequality since the mid-1980s is explained by confounding effects of labor force composition rather than true increases in inequality within detailed demographic groups We reexamine these claims using detailed data from the Current Population Survey and find only limited support. Although the growth of overall inequality in the U.S. slowed in the 1990s, upper tail inequality rose almost as rapidly during the 1990s as during the 1980s. A decomposition applied to the CPS data reveals large and persistent rise in within-group earnings inequality over the past several decades, controlling for changes in labor force composition. While changes in the minimum wage can potentially account for much of the movement in lower tail earnings inequality, strong time series correlations of the evolution of the real minimum wage and upper tail wage inequality raise questions concerning the causal interpretation of such relationships We also find that changes in the college/high school wage premium appear to be well captured by standard models emphasizing rapid secular growth in the relative demand for skills and fluctuations in the rate of growth of the relative supply of college workers--though these models do not accurately predict the slowdown in the growth of the college/high-school gap during the 1990s. We conclude that these patterns are not adequately explained by either a 'unicausal' skill-biased technical change explanation or a revisionist hypothesis focused primarily on minimum wages and mechanical labor force compositional effects. We speculate that these puzzles can be partially reconciled by a modified version of the skill-biased technical change hypothesis that generates a polarization of skill demands"--National Bureau of Economic Research web site Erziehung Education Economic aspects United States Income distribution United States USA Katz, Lawrence F. 1959- Verfasser (DE-588)128759348 aut Kearney, Melissa Schettini 1974- Verfasser (DE-588)124552218 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11627 (DE-604)BV002801238 11627 http://papers.nber.org/papers/w11627.pdf kostenfrei Volltext |
spellingShingle | Autor, David H. 1967- Katz, Lawrence F. 1959- Kearney, Melissa Schettini 1974- Trends in U.S. wage inequality re-assessing the revisionists National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Erziehung Education Economic aspects United States Income distribution United States |
title | Trends in U.S. wage inequality re-assessing the revisionists |
title_auth | Trends in U.S. wage inequality re-assessing the revisionists |
title_exact_search | Trends in U.S. wage inequality re-assessing the revisionists |
title_exact_search_txtP | Trends in U.S. wage inequality re-assessing the revisionists |
title_full | Trends in U.S. wage inequality re-assessing the revisionists David H. Autor ; Lawrence F. Katz ; Melissa S. Kearney |
title_fullStr | Trends in U.S. wage inequality re-assessing the revisionists David H. Autor ; Lawrence F. Katz ; Melissa S. Kearney |
title_full_unstemmed | Trends in U.S. wage inequality re-assessing the revisionists David H. Autor ; Lawrence F. Katz ; Melissa S. Kearney |
title_short | Trends in U.S. wage inequality |
title_sort | trends in u s wage inequality re assessing the revisionists |
title_sub | re-assessing the revisionists |
topic | Erziehung Education Economic aspects United States Income distribution United States |
topic_facet | Erziehung Education Economic aspects United States Income distribution United States USA |
url | http://papers.nber.org/papers/w11627.pdf |
volume_link | (DE-604)BV002801238 |
work_keys_str_mv | AT autordavidh trendsinuswageinequalityreassessingtherevisionists AT katzlawrencef trendsinuswageinequalityreassessingtherevisionists AT kearneymelissaschettini trendsinuswageinequalityreassessingtherevisionists |