Barrela, Rodrigo; Costa, Eduardo; Portugal, Pedro - 2024
We provide evidence showing, for the first time, that the sensitivity of real wages to the business cycle is much … over the business cycle and is sharply attenuated after we account for job match composition. Second, by estimating … (CBAs) to the cycle. First, the considerable gap in new hires' cyclicality arises mostly from match quality fluctuations …