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Wiley InterScience | |||
  The Economic JournalVolume 115 Issue 503, Pages 391 - 422 Published Online: 4 Apr 2005 Journal compilation © 2010 by the Royal Economic Society (Registered Charity No. 231508) Published on behalf of the Royal Economic Society
Abstract | References | Full Text: HTML, PDF (Size: 314K) | Related Articles | Citation Tracking  Globalisation vs Skill-Biased Technological Change: Implications for Unemployment and Wage Inequality* * We thank two anonymous referees for very helpful comments and suggestions to improve the paper. We also thank Kaku Furuya and seminar participants at UC-Irvine, UCLA, the European Economic Association meetings (2001), the European meetings of the Econometric Society (2001), and the Far Eastern meetings of the Econometric Society (2001) for useful comments. Copyright 2005 Royal Economic Society ABSTRACTGlobalisation and skill-biased technological change have emerged as alternative explanations for the increase in US wage inequality since 1980. We investigate the static and dynamic effects of these shocks on unemployment across skill classes using a model of search unemployment. Although we confirm that globalisation and skill-biased technological change both lead to increases in wage inequality, we show that these shocks may have different effects on unemployment. We also show that labour market institutions play a role in determining the size of shocks, which formalises an argument in Krugman (1994) about the labour market experiences of the US and Europe since 1980. Date of receipt of first submission: July 2001 Date of receipt of final typescript: March 2004 | 
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