Abstract
A decline in real wages of 11 per cent in the USA in the 1980s! Are we living in an age of diminished prosperity? This decline in real wages was not just experienced by a small fraction of all workers. Less-skilled workers have actually been facing declining wages for a long period. Somewhat counterintuitively, this decline in the relative wage of less-skilled workers has been paralleled by an increase in the relative skill level in the work force.
Valuable comments and suggestions, by Ben Geurts, Henri de Groot, Theo van de Klundert, Paul Tang and Hans Timmer are gratefully acknowledged.
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Nahuis, R. (1999). Global Integration and Wages in a General Equilibrium World Model: Contributions of WorldScan. In: Brenton, P., Pelkmans, J. (eds) Global Trade and European Workers. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-27035-4_6
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