Knowledge, Inequality and Growth in the New Economy
'In Knowledge, Inequality and Growth in the New Economy, Richard Nahuis succeeds in explaining different empirical trends from a common theoretical perspective. It is convincingly shown that the wage gap between skilled and unskilled workers and the productivity paradox related to the spread of computers can be explained by the introduction of a so-called general purpose technology. Working through the models is like undertaking a voyage of discovery with many beautiful sites. References to statistics and measurement problems serve as a compass to keep track of the real world. The rich content and the analytical skills of the author make reading and studying the book highly rewarding.'
- Theo van de Klundert, Tiburg University, Groningen University and CPB Netherlands Bureau for Economic Policy Analysis, The Netherlands
During the past two centuries, major technological breakthroughs such as the steam engine and electricity have acted as the catalysts for growth and have resulted in a marked increase in material well-being. The dominant technology today - information and communication technology (ICT) - does not seem to drive growth as effectively and has coincided with an apparent increase in wage inequality. This book provides explanations of these two characteristics of modern economies and analyses them from both an individual and integrated perspective.
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General introduction and outline
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adoption allocation analysis Appendix assimilation assume assumption biased technological change cent chapter competition consumer consumption countries CPB Netherlands decrease demand for skilled derive developed differential discussed economy effects of trade empirical endogenous growth endogenous growth theory equal equation estimated explanation firm-specific knowledge GDP effects growth accounting growth rate GTAP Heckscher-Ohlin Heckscher-Ohlin model Heckscher-Ohlin theory Hence high-tech impact implies important increase industries inputs intertemporal investment Klundert knowledge capital knowledge pool knowledge spillovers knowledge stock labour market Leamer low-skilled main text non-OECD region number of firms OECD optimal output patents physical capital productive knowledge productivity growth productivity paradox Purpose Technology R&D intensities R&D spillovers R&D stocks ratio relative wage returns to variety Section sectoral spillovers simulations skill intensity skill premium skilled labour skilled workers skilled-intensive specific Stolper-Samuelson theorem supply of skilled Table total factor productivity trade liberalization unskilled workers variables wage inequality WorldScan