The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.
What are the Causes of Rising Wage Inequality in the United States?
January 1995Volume 1, Number 1
JEL classification: J31, I21, O33
Authors: John Bound and George Johnson
During the last 15 yearsespecially in the 1980swage inequality rose in the United States. It appears that this can be explained by a secular shift in production functions favoring workers with intellectual rather than manual skills, together with slower growth in the supply of skilled labor than in the previous decade.