Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/105767
Authors: 
Skott, Peter
Guy, Frederick
Year of Publication: 
2013
Series/Report no.: 
Working Paper, University of Massachusetts, Department of Economics 2013-01
Abstract: 
The microprocessor and related technologies have transformed corporate and industry structure; applied in a neo?liberal environment, the technologies have had profound effects on the relative power of different groups. Skott and Guy (2007) and Guy and Skott (2008) formalized one aspect of this process of power?biased technical change: firms' increased ability to monitor low?paid employees and the resulting changes in inequality and employment at the low end of the income distribution. This paper addresses power biases and income inequality at the high end. Increasing firm?level financial volatility has intensified the agency problem and increased the power of corporate executives. These effects, which have been compounded by changes in ideology and pay norms, yielded an explosion in executive pay. JEL Categories: J31, O33
Subjects: 
communications technology
power-biased technical change
inequality
executive pay
efficiency wage
JEL: 
J31
O33
Document Type: 
Working Paper

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