Skill Heterogeneity and Equilibrium Unemployment
Posted: 2 Jul 2008
Date Written: October 2007
Abstract
Opportunities facing skilled and unskilled workers diverged over the last quarter of the twentieth century in the UK. We develop an empirical framework consistent with these trends that highlights the importance of skill heterogeneity in both wage setting and labour demand in explaining aggregate labour market outcomes. The framework enables us to quantify the macroeconomic effects of shocks that impact particularly on one group rather than another.
Keywords: JEL classifications: E24, J23
Suggested Citation: Suggested Citation
Riley, Rebecca and Young, Garry, Skill Heterogeneity and Equilibrium Unemployment (October 2007). Oxford Economic Papers, Vol. 59, Issue 4, pp. 702-725, 2007, Available at SSRN: https://ssrn.com/abstract=1154395 or http://dx.doi.org/10.1093/oep/gpm011
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