Wage dispersion among narrowly defined groups of workers is substantially larger for older and more educated workers than for younger and less educated works. As [a] result, I show that a large fraction of the increase in residual wage inequality is a spurious consequence of the fact that the work force has grown older and more educated since the early 1980s.
That is Thomas Lemieux, from ""Increasing Wage Inequality," the lead article in the June 2006 American Economic Review. Lemieux also dismisses the common view that information technology is the major cause of growing wage dispersion.
Since I am having a 12-course Cantonese meal tonight at Hong Kong Palace [Falls Church], those two sentences are unlikely to be topped later today. Here are related papers by the author.