Productivity and Wages: Common Factors and Idiosyncrasies Across Countries and Industries / Edward P. Lazear.

Format:

Book

Author/Creator:

Lazear, Edward P.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w26428.

NBER working paper series no. w26428

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Productivity and Wages

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2019.

Summary:

Average wage growth is closely related to aggregate productivity growth across countries and within countries over time. The commonality of patterns across OECD countries suggests that common factors are at work. Are productivity-based explanations of wage changes consistent with increasing variance in wages as well as increases in mean wages as suggested by skill-biased technological change or other factors? To answer this, it is necessary to observe education-specific productivity growth. Cross-industry comparisons reveal that industries dominated by highly educated workers have higher productivity and experienced higher-than-average productivity growth that is more than sufficient to account for increasing skill differentials.

Notes:

Print version record

November 2019.