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Technical progress and real wage stagnation: theory and evidence from the U.S. steel industry

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Over the past twenty years real wages have stagnated despite substantial technical progress. This runs contrary to the widespread belief that technological change increases real wages. This paper presents a theoretical model showing that technical progress could reduce wages. This hypothesis is then tested using data from the U.S. steel industry.

Keywords: Stagnation; Technical progress; Wages

Document Type: Research Article


Publication date: 2004-01-01

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