000	02165nam  2200337za 4500
001	9.850530
003	CaOODSP
005	20221107154156
007	cr |||||||||||
008	180123s2017    oncd    obs  f000 0 eng d
040	|aCaOODSP|beng
041	|aeng|bfre
043	|an-us---
086	1 |aFB3-5/2017-61E-PDF
100	1 |aLochner, Lance.
245	10|aWage dynamics and returns to unobserved skill |h[electronic resource] / |cby Lance Lochner, Youngmin Park and Youngki Shin.
260	|a[Ottawa] : |bBank of Canada, |c2017.
300	|aii, 47, [14] p. : |bcharts (some col.)
490	1 |aBank of Canada staff working paper, |x1701-9397 ; |v2017-61
500	|a"December 2017."
504	|aIncludes bibliographical references (p. 42-47).
520	3 |a“Economists disagree about the factors driving the substantial increase in residual wage inequality in the U.S. over the past few decades. We identify and estimate a general model of log wage residuals that incorporates: changing returns to unobserved skills, a changing distribution of unobserved skills, and changing volatility in wages due to factors unrelated to skills. Using data from the Panel Study of Income Dynamics, we estimate that the returns to unobserved skills have declined by as much as 50% since the mid-1980s despite a sizeable increase in residual inequality. Instead, the variance of skills rose over this period because of increasing variability in lifecycle skill growth. Finally, we develop an assignment model of the labor market and show that both demand and supply factors contributed to the downward trend in the returns to skills over time, with demand factors dominating for non-college men"--Abstract, p. ii.
546	|aIncludes abstract in French.
692	07|2gccst|aSalaries
692	07|2gccst|aSkills
692	07|2gccst|aStatistical analysis
700	1 |aPark, Youngmin.
700	1 |aShin, Youngki.
710	2 |aBank of Canada.
830	#0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2017-61|w(CaOODSP)9.806221
856	40|qPDF|s734 KB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2017-61-eng.pdf