Ciccone, AntonioUniversitat Pompeu Fabra. Departament d'Economia i Empresa2017-07-262017-07-261996-10-01http://hdl.handle.net/10230/1044The Industrial Revolution was characterized by technological progress and an increasing capital intensity. Why did real wages stagnate or fall in the beginning? I answer this question by modeling the Industrial Revolution as the introduction of a relatively more capital intensive production method in a standard neoclassical framework. I show that {\sl real wages fall in the beginning of an industrial revolution if and only if technological progress in the relatively more capital intensive sector is relatively fast.}application/pdfengL'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commonsinfo:eu-repo/semantics/workingPaperindustrial revolutiontechnological changecapital intensiveproductionneoclassical growth modelMacroeconomics and International Economicsinfo:eu-repo/semantics/openAccess