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- Title
HOW POWERFUL ARE NETWORK EFFECTS? A SKILL-BIASED TECHNOLOGICAL CHANGE APPROACH.
- Authors
Afonso, Oscar; Magalhäes, Manuela
- Abstract
Even for the standard skill-biased technological change (SBTC) literature, the generic rise in the skill premium in the face of the relative increase in skilled workers since the 1980s seems a little puzzling. We develop a general equilibrium SBTC growth model that allows the dominance of either the price channel or the market-size channel mechanism through which network spillovers affect the technological-knowledge bias and, thus, the paths of intra-country wage inequality. The proposed mechanisms can accommodate facts not explained by the earlier literature.
- Subjects
TECHNOLOGICAL innovations; NETWORK effect; INCOME inequality; ABILITY
- Publication
Macroeconomic Dynamics, 2020, Vol 24, Issue 4, p882
- ISSN
1365-1005
- Publication type
Article
- DOI
10.1017/S1365100518000524