Skills, productivity, and wages: Theory and evidence

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This project aims to build a macroeconomic model to help understand the implications of heterogeneity in workers skills for wages and productivity. The research significance of this project is in its treatment of worker skills as an indivisible bundle. This bundling of skills gives rise to the possibility that a given skill is priced differently in different occupations which in turn has implications for firms' incentives to invest in technology and training and workers' incentives to invest in education. This project uses state of the art economic theory and empirical methods and expects to provide a new and better understanding of the sources of wage growth that helps guide national policy formation in innovation and training.