Human Capital, Unemployment and Relative Wages in a Global Economy

Donald R. Davis and Trevor A. Reeve
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Donald R. Davis: Columbia University and NBER
Trevor A. Reeve: Board of Governors of the Federal Reserve System

Chapter 2 in Trade, Investment, Migration and Labour Market Adjustment, 2002, pp 7-27 from Palgrave Macmillan

Abstract: Abstract Over the past 20 years both the American and the European labour markets have experienced serious problems. Yet the manifestations have been distinct. Europe has suffered high and persistent unemployment, reaching double digits in many countries. America has seen the skilled to unskilled wage premium rise sharply. From 1979 to 1989 the relative wage of a worker in the 90th percentile to one in the 10th percentile rose by 20 per cent (Freeman and Katz (1995)).

Keywords: Minimum Wage; Skilled Labour; Unskilled Labour; Relative Wage; Arbitrage Condition (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-4039-2018-8_2

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DOI: 10.1057/9781403920188_2

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