To access the full text documents, please follow this link:

Falling real wages during an industrial revolution
Ciccone, Antonio
Universitat Pompeu Fabra. Departament d'Economia i Empresa
The Industrial Revolution was characterized by technologicalprogress and an increasing capital intensity. Why did real wages stagnateor fall in the beginning? I answer this question by modeling the IndustrialRevolution as the introduction of a relatively more capital intensiveproduction method in a standard neoclassical framework. I show that{\sl real wages fall in the beginning of an industrial revolution if andonly if technological progress in the relatively more capital intensivesector is relatively fast.}
Macroeconomics and International Economics
industrial revolution
technological change
capital intensive
neoclassical growth model
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
Working Paper

Show full item record