The Race between Education and Technology: The Evolution of U.S. Educational Wage Differentials, 1890 to 2005

摘要: U.S. educational and occupational wage differentials were exceptionally high at the dawn of twentieth century then decreased in several stages over next eight decades. But starting early 1980s labor market premium to skill rose sharply by 2005 college was back its 1915 level. The contains two inequality tales: one declining rising. We use a supply-demand-institutions framework understand factors that produced these changes from 1890 2005. find strong secular growth relative demand for more educated workers combined with fluctuations supplies go far explain long-run evolution differentials. An increase rate supply skills associated school movement around 1910 played key role narrowing 1980. slowdown 1980 major reason surge Institutional important various junctures, especially during 1940s late 1970s.