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Lecture 8 Changing Wage Structure PDF

Lecture 8 Changing Wage Structure PDF - Chapter 8 Changing...

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1 Chapter 8: Changing Wage Structure Winter Quarter 2007 Sections: 8.0-8.4
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2 The Wage Distribution 0 5 10 15 Percent 0 300 600 900 1200 1500 1800 2100 2400 2700 3000 Weekly Earnings
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3 What “shapes” the Wage Distribution Wage Differentials exist because of Age differences Younger workers are still investing in skills Ability differences More able workers earn a higher wage Human Capital differences More human capital means higher wages Wage distribution is positively skewed because High ability workers ALSO acquire more human capital Stretches wage distribution out
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4
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