Schumpeterian Growth Theory and the Dynamics of Income Inequality

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Schumpeterian Growth Theory and the Dynamics of Income Inequality

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Title: Schumpeterian Growth Theory and the Dynamics of Income Inequality
Author: Aghion, Philippe
Citation: Aghion, Philippe. 2002. Schumpeterian growth theory and the dynamics of income inequality. Econometrica 70(3): 855-882.
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Abstract: In this lecture, it is argued that Schumpeterian Growth Theory, in which growth is driven by a sequence of quality-improving innovations, can shed light on two important puzzles raised by the recent evolution of wage inequality in developed economies. The first puzzle concerns wage inequality between educational groups, which has substantially risen in the US and the UK during the past two decades following a sharp increase in the supply of educated labor. The second puzzle concerns wage inequality within educational groups, which accounts for a large fraction of the observed increase in wage inequality, although in contrast to between-group wage inequality it has mainly affected the temporary component of income. The definitive version is available at www3.interscience.wiley.com.
Published Version: http://dx.doi.org/10.1111/1468-0262.00312
Other Sources: http://www.economics.harvard.edu/faculty/aghion/papers_aghion
Terms of Use: This article is made available under the terms and conditions applicable to Other Posted Material, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#LAA
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:3350067

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  • FAS Scholarly Articles [7219]
    Peer reviewed scholarly articles from the Faculty of Arts and Sciences of Harvard University
 
 

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