Conference Agenda
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Session Overview |
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SUN 6-3: Inequality
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Does Digitalization Widen Labor Income Inequality? 1School of Economics, Shandong University; 2School of Economics and Management, University of Chinese Academy of Sciences; 3School of Management and Economics, The Chinese University of Hong Kong (Shenzhen); 4Rotman School of Management, University of Toronto We develop a growth model that endogenizes occupational choice of workers with different ability levels to study how digitalization impacts labor income inequality. Our analysis incorporates digitalization's multifaceted effects on the real economy: (i) it influences economic growth through automation, and (ii) affects labor income inequality through two channels---labor productivity (demand side) and labor time modulation (supply side). We examine how digitalization, operating through the labor demand and supply channels, impacts wage inequality (i) between skilled and unskilled workers, (ii) within each skill group, and (iii) economy-wide. Our analysis reveals that digitalization's impact on labor income inequality---whether exacerbating or mitigating disparities---depends on the inequality metric employed.
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