a column by Fabian Eckert, Sharat Ganapati and Conor Walsh for VOX: CEPR’s Policy Portal
In recent years, wages for highly skilled workers have grown rapidly.
Using US data between 1980 and 2015, this column studies a group of service industries that are skill-intensive, widely traded, and have recently seen explosive wage growth. It shows that, unlike any other sector, the wage growth in these industries was strongly biased toward the densest local labour markets and the highest-paying firms.
These developments alone explain 30% of the increase in inequality between the 50th and 90th percentiles of the wage distribution.
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Showing posts with label service_industries. Show all posts
Showing posts with label service_industries. Show all posts
Tuesday, 1 October 2019
Thursday, 27 June 2019
Like it or not? Online platforms and productivity
a column by Alberto Bailin Rivares, Peter Gal, Valentine Millot and Stéphane Sorbe for VOX: CEPR’s Policy Portal
While the innovative features of online platforms offer the potential to improve the performance of service sectors, they raise many new challenges for policymakers.
Using Google search data on service industries in ten OECD countries, this column shows that platforms generally stimulate the productivity of incumbent service firms, but the impact crucially depends on the type of platform considered. Productivity gains tend to be lower when a platform is persistently dominant on its market, suggesting that the contestability of platform markets should be promoted in order to maximise their economic benefits.
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While the innovative features of online platforms offer the potential to improve the performance of service sectors, they raise many new challenges for policymakers.
Using Google search data on service industries in ten OECD countries, this column shows that platforms generally stimulate the productivity of incumbent service firms, but the impact crucially depends on the type of platform considered. Productivity gains tend to be lower when a platform is persistently dominant on its market, suggesting that the contestability of platform markets should be promoted in order to maximise their economic benefits.
Continue reading
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