Human Capital Investment, Inequality, and Economic Growth
将不平等上升视为人力资本投资跟不上技能需求增长的均衡结果，分析了投资类型、数量和使用强度三种决策如何相互替代或互补，从而放大不平等，并指出技能偏向型技术进步驱动增长时，更大的不平等会降低增长率。
We treat rising inequality as an equilibrium outcome in which human capital investment fails to keep pace with rising demand for skills. Investment affects skill supply and prices on three margins: the type of human capital in which to invest, how much to acquire, and the intensity of use. The latter two represent the intensive margins of human capital acquisition and utilization. These choices are substitutes for the creation of new skilled workers, yet they are complementary with each other, magnifying inequality. When skill-biased technical change drives economic growth, greater inequality reduces growth.