Technological progress has played a central role in economic growth, income distribution,
and unemployment. Macroeconomics, both theories and empirics, has so far shed light on …

This chapter discusses the relationships among technical change, economic growth and
income distribution. The first section of the chapter concentrates on technical change and …

Although microeconomic studies find a positive relationship between R&D and skill premia,
much of the recent rise in US wage inequality was accompanied by slowing labor …

By introducing a wage-setting equation derived from efficiency wage or bargaining
hypotheses, the standard neoclassical growth model is extended to one where there is …

Theoretical predictions of the effect of TFP growth on employment are ambiguous, and
depend on the extent to which new technology is embodied in new jobs. We estimate a …

There is a growing concern in advanced countries that the position of less skilled workers
has deteriorated, either through their ability to secure jobs and/or their ability to earn a …

We explore the response of employment (unemployment) skill differentials to skill-biased
shifts in demand touched off by the new and spreading technologies. We find that skill …

In this chapter we inspect economic mechanisms through which technological progress
shapes the degree of inequality among workers in the labor market. A key focus is on the …

This paper analyzes equilibrium, dynamics, and optimal decisions on the factor bias of
innovation in a model of induced innovation. In a model with full employment, we show that …

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