Wage Risk and the Skill Premium.

Autor/inn/en	Slavík, Ctirad; Yazici, Hakki
Titel	Wage Risk and the Skill Premium. Gefälligkeitsübersetzung: Lohnrisiko und Qualifikationsprämie.
Quelle	In: The economic journal, 132 (2022) 646, S. 2207-2230 PDF als Volltext Link als defekt meldenVerfügbarkeit
Sprache	englisch
Dokumenttyp	online; gedruckt; Zeitschriftenaufsatz
ISSN	0013-0133; 1468-0297
DOI	10.1093/ej/ueac015
Schlagwörter	Akkumulation; Arbeitskräftebedarf; Kapital; Sparen; USA; Auswirkung; Entwicklung; Sparverhalten; Quote; Bildungsertrag; Bildungsertrag; Technologische Entwicklung; Kapital; Sparen; Arbeitskräfteangebot; Arbeitskräftebedarf; Arbeitsmarktrisiko; Akkumulation; Auswirkung; Entwicklung; Quote; Sparverhalten; Hochschulabsolvent; Hoch Qualifizierter; USA
Abstract	"The skill premium has increased significantly in the United States in the last five decades. During the same period, individual wage risk has also increased. This paper proposes a mechanism through which a rise in wage risk increases the skill premium. Intuitively, a rise in uninsured wage risk increases precautionary savings, thereby boosting capital accumulation, which increases the skill premium due to capital-skill complementarity. Using a quantitative macroeconomic model, we find that the rise in wage risk observed between 1967 and 2010 increases the skill premium significantly. This finding is robust across a variety of model specifications." The study refers to the period 1967-2010. (Author's abstract, IAB-Doku, Published by arrangement with John Wiley & Sons)..
Erfasst von	Institut für Arbeitsmarkt- und Berufsforschung, Nürnberg
Update	2023/1