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We propose a mechanism for labor-market polarization based on the nonhomotheticity of demand that we call the income-driven channel. Our mechanism builds on a novel empirical fact: expenditure elasticities and production intensities in low- and high-
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::9ba08f116da5521ccb7924aa6c29ef76
https://doi.org/10.21033/wp-2020-22
https://doi.org/10.21033/wp-2020-22
Publikováno v:
SSRN Electronic Journal.
Publikováno v:
SSRN Electronic Journal.
Autor:
Jane Olmstead-Rumsey, Ana Danieli
Publikováno v:
SSRN Electronic Journal.
The COVID-19 economic crisis differs from past recessions in terms of the sectors and occupations that are being hit first. In this paper we propose a model with sectoral and occupational heterogeneity and non-homothetic preferences over sectors. Tha