Highly skilled workers are not the only ones who receive a wage premium from innovation
Aghion, P.
, Bergeaud, A., Blundell, R. & Griffith, R.
(9 January 2020)
Highly skilled workers are not the only ones who receive a wage premium from innovation.
LSE Business Review.
, Bergeaud, A., Blundell, R. & Griffith, R.
(9 January 2020)
Highly skilled workers are not the only ones who receive a wage premium from innovation.
LSE Business Review.
Innovative firms pay workers more than others do. This fact is well known from endogenous growth theories, which state that as technology advances, innovative firms should get more rents, which should translate into higher wages. Empirically in the UK over the period 2004-2016, an average worker in a non-innovative firm was paid about 20 per cent less than an observably equivalent worker in one of the top 5 per cent most innovative firms.