Falling real wages during an industrial revolution


Autoria(s): Ciccone, Antonio
Contribuinte(s)

Universitat Pompeu Fabra. Departament d'Economia i Empresa

Data(s)

15/09/2005

Resumo

The Industrial Revolution was characterized by technologicalprogress and an increasing capital intensity. Why did real wages stagnateor fall in the beginning? I answer this question by modeling the IndustrialRevolution as the introduction of a relatively more capital intensiveproduction method in a standard neoclassical framework. I show that{\sl real wages fall in the beginning of an industrial revolution if andonly if technological progress in the relatively more capital intensivesector is relatively fast.}

Identificador

http://hdl.handle.net/10230/1044

Idioma(s)

eng

Direitos

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info:eu-repo/semantics/openAccess

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Palavras-Chave #Macroeconomics and International Economics #industrial revolution #technological change #capital intensive #production #neoclassical growth model
Tipo

info:eu-repo/semantics/workingPaper