Wages and Employment in the United States and Germany:What Explains the Differences?
对比美国和德国过去20年工资与教育关系的变化，发现技术进步和人力资本与物质资本比率的变化是导致两国工资不平等差异的关键，对理解技能回报变化有参考价值。
Over the last 20 years the wage-education relationships in the United States and Germany have evolved very differently, while the education compositions of employment have evolved in a parallel fashion. In this paper, we show how these patterns shed light on the nature of recent technological change and highlight the importance of taking into account movements in the ratio of human capital to physical capital when examining changes in the returns to skill. Our analysis indicates that the United States could have prevented the increase in wage inequality observed in the 1980's by a faster accumulation of physical capital.