Climate change and wage inequality
We develop general equilibrium models that incorporate an agricultural equipment sector to explore the impact of climate change on skilled-unskilled wage inequality in a small open economy, with a specific focus on the role of the domestic capital market. In the model with the agricultural equipment...
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| Veröffentlicht in: | Journal of economics (Vienna, Austria) Austria), 2024-12, Vol.143 (3), p.279-303 |
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| container_title | Journal of economics (Vienna, Austria) |
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| creator | Pi, Jiancai Luo, Yuhan |
| description | We develop general equilibrium models that incorporate an agricultural equipment sector to explore the impact of climate change on skilled-unskilled wage inequality in a small open economy, with a specific focus on the role of the domestic capital market. In the model with the agricultural equipment sector using skilled labor as input, we illustrate that climate change decreases both skilled and unskilled wages. However, its effect on wage inequality varies depending on the discrepancy of the capital intensity between the urban skilled and unskilled sectors. Moreover, if the demand for capital in the agricultural equipment sector significantly influences the capital market, this sector will not only act as a buffer, but also trigger a reversal change of wage inequality. To enhance the robustness of our findings, we extend the model to include considerations of public goods provision and taxation. |
| doi_str_mv | 10.1007/s00712-024-00877-8 |
| format | Article |
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| ispartof | Journal of economics (Vienna, Austria), 2024-12, Vol.143 (3), p.279-303 |
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| language | eng |
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| subjects | Agricultural equipment Agriculture Capital Capital intensity Capital markets Climate change Economic Theory/Quantitative Economics/Mathematical Methods Economics Economics and Finance Environmental impact Equilibrium Game Theory Income distribution Inequality Macroeconomics/Monetary Economics//Financial Economics Manufacturing Microeconomics Productivity Public Finance Public goods Robustness Skilled workers Social and Behav. Sciences Taxation Wage differential Wages & salaries |
| title | Climate change and wage inequality |
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