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1 results

  • HOW POWERFUL ARE NETWORK EFFECTS? A SKILL-BIASED TECHNOLOGICAL CHANGE APPROACH

  • Oscar Afonso, Manuela Magalhäes
  • Journal:
    Macroeconomic Dynamics / Volume 24 / Issue 4 / June 2020
    Published online by Cambridge University Press:
    14 November 2018, pp. 882-919

  • 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.