Superstars and renaissance men
Subtitle: specialization,  market size and the income distribution
By: Richard Walker
Contributors: London School of Economics and Political Science. Centre for Economic Performance
Series: CEP discussion paper -- no. 707; Discussion paper (London School of Economics and Political Science. Centre for Economic Performance : Online) -- no. 707.
Publisher: Centre for Economic Performance, London School of Economics and Political Science
Published: 2005
Place of publication: London
Language: eng
Format: [electronic resource] :
Description: "A general equilibrium model of individual specialization is presented in which agents trade off the productivity and price implications of producing a narrower range of goods. Agents with highly specific skills turn out to benefit most from large markets. The model is able to replicate features of the long-term evolution of the US income distribution, with specialization-biased technical change and the increase in employed population playing key roles. Among the results is that, at least along one dimension of ability, the skill premium is increasing in the relative supply of skills."
Notes: Title from PDF file (viewed on Dec. 30, 2005).

"November 2005."

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.