Relative cohort size and inequality in the United States.
Abstract
The work presented here has attempted to test the hypothesis that changing [U.S.] demographic structure has been a major factor in the changes in relative wages that have occurred over the last 30 years leading to the observed sharp decline in the wages of young adults and those approaching retirement relative to prime-age workers as well as to the decline and then steep increase in the wages of the college-educated relative to high-school graduates.... The analysis has identified pronounced effects of changing age structure on wages.... (EXCERPT)
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