Author: Donggyun ShinPublisher:
ISBN:
Category :
Languages : en
Pages : 176
Book Description
Cyclical Patterns of Real Wages and Employment
Author: Donggyun ShinIn Search of a Stylised Fact
Author: Andrea BrandoliniPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 108
Book Description
The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages
Author: Mr.Eswar PrasadPublisher: International Monetary Fund
ISBN: 1451974620
Category : Business & Economics
Languages : en
Pages : 38
Book Description
This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same degree of cyclical variation in wages. However, important differences emerge in the patterns of employment and hours variation for skilled versus unskilled workers, especially when a college degree is used as a proxy for skills. We find that the quality of labor input per manhour tends to rise in recessions, thereby inducing a countercyclical bias in aggregate measures of the real wage. We also find substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, which we interpret as indicative of important inter-industry differences in labor contracting.
The Cyclical Relationship Between Real Wages and Employment
Author: Anthony Edwin MyattLabor Quality and the Cyclicality of Real Wages
Author: Haoming LiuPublisher: London : Department of Economics, University of Western Ontario
ISBN:
Category : Business & Economics
Languages : en
Pages : 52
Book Description
Wages in the Business Cycle
Author: Jonathan MichiePublisher: Bloomsbury Publishing
ISBN: 147250819X
Category : Business & Economics
Languages : en
Pages : 209
Book Description
During prolonged economic recessions when the normal cyclical expansion of output fails to materialize, the topic of the 'cyclical behaviour of wages' has emerged as an area of debate. In 1985, the British Treasury claimed that academic studies into the cyclical behaviour of wages demonstrated that a cut in wages would increase employment. Wages in the Business Cycle contests this argument by presenting the results of original, empirical work which illustrates the absence of any systematic empirical regularity to wage movements over the business cycle. Jonathan Michie argues that the re-emergence of this debate must be seen within the context of the theory of the 'labour demand function', representing an attempt to challenge the Keynesian theoretical assumptions implicit in the bulk of applied macro economic work up to the late 1970s.
Employment Time and the Cyclicality of Earnings Growth
Author: Eran B. HoffmannPublisher: International Monetary Fund
ISBN: 1484353560
Category : Business & Economics
Languages : en
Pages : 67
Book Description
We study how the distribution of earnings growth evolves over the business cycle in Italy. We distinguish between two sources of annual earnings growth: changes in employment time (number of weeks of employment within a year) and changes in weekly earnings. Changes in employment time generate the tails of the earnings growth distribution, and account for the increased dispersion and negative skewness in the distribution of earnings growth in recessions. In contrast, the cross-sectional distribution of weekly earnings growth is symmetric and stable over the cycle. Thus, models that rely on cyclical idiosyncratic risk, should separately account for the employment margin in their earnings process to avoid erroneous conclusions. We propose such a process, based on the combination of simple employment and wage processes with few parameters, and show that it captures the procyclical skewness in changes in earnings growth and other important features of its distribution.
Efficiency Wages, Nominal Rigidities, and the Cyclical Behavior of Real Wages and Marginal Cost
Author: Michael T. KileyPublisher:
ISBN:
Category : Prices
Languages : en
Pages : 28
Book Description
A Study of Cyclical Wage Flexibility Using Disaggregated Data
Author: Jane Elizabeth MatherPublisher:
ISBN:
Category :
Languages : en
Pages : 280
Book Description
Author: Edmund S. Phelps