Capital Concentration and Wage Inequality

IF 0.3 4区经济学 Q4 ECONOMICS

B E Journal of Theoretical Economics Pub Date : 2019-11-15 DOI:10.1515/BEJTE-2019-0049

Jiancai Pi, Yanwei Fan

引用次数: 2

Abstract

This paper analyzes how capital concentration affects wage inequality through the channel of financial frictions. Higher capital concentration can be regarded as the Piketty effect. Under the framework of cost constrained financial frictions, we find that higher capital concentration will expand (resp. narrow down) wage inequality if the asset-liability ratio in the skilled sector is high (resp. low) enough relative to that in the unskilled sector.

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资本集中与工资不平等

本文通过金融摩擦的渠道，分析了资本集中对工资不平等的影响。更高的资本集中度可以看作是皮凯蒂效应。在成本约束的金融摩擦框架下，我们发现资本集中度越高，资本集中度越高。如果技术部门的资产负债率高(如:)，则缩小工资不平等。相对于非熟练行业，这一比例足够低。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

B E Journal of Theoretical Economics ECONOMICS-

CiteScore

0.80

自引率

25.00%

发文量

期刊介绍： We welcome submissions in all areas of economic theory, both applied theory and \"pure\" theory. Contributions can be either innovations in economic theory or rigorous new applications of existing theory. Pure theory papers include, but are by no means limited to, those in behavioral economics and decision theory, game theory, general equilibrium theory, and the theory of economic mechanisms. Applications could encompass, but are by no means limited to, contract theory, public finance, financial economics, industrial organization, law and economics, and labor economics.