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Skill-biased technological change and inequality in the U.S
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Resumo(s)
Since the 1980’s, income inequality has increased markedly and is at the highest level ever since it
has been recorded in the U.S. This paper uses an overlapping-generations model with incomplete
markets that allows for household heterogeneity and that is calibrated to match the U.S. economy
with the purpose to study how skill-biased technological change (SBTC) and changes in taxation
quantitatively account for the increase in inequality from 1980 to 2010. We find that SBTC and
taxation decrease account for 48% of the total increase in the income Gini coefficient. In particular,
we conclude that SBTC alone accounted for 42% of the overall increase in income inequality, while
changes in the progressivity of the income tax schedule alone accounted for 5,7%.
Descrição
Palavras-chave
Technical change Income inequality Wealth inequality Heterogeneity Taxation JEL Codes E21 J10