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The role of real wages, productivity and fiscal policy in Germany's Great Depression 1928-1937

Fisher, Jonas D.M.; Hornstein, Andreas - Federal Reserve Bank of Chicago - 2001

-37. In this time period, real wages were countercyclical, and productivity and fiscal policy were procyclical. We use the … neoclassical growth model to investigate how much these factors contribute to the Depression. We find that real wages, which were … in productivity and fiscal policy were also important for the decline and recovery. Even though our analysis is limited …

Persistent link: https://www.econbiz.de/10005419926

Inter-industry contagion and the competitive effects of financial distress announcements : evidence from commercial banks and life insurance companies

Brewer, Elijah (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001761426

The growing importance of family and community : an analysis of changes in the sibling correlation in earnings

Mazumder, Bhashkar (contributor); … - 2003 - [Elektronische Ressource]

"This study presents evidence that the correlation in brothers' earnings has risen in recent decades. We use two distinct cohorts of young men from the National Longitudinal Surveys and estimate that the correlation in earnings between brothers rose from 0.26 to 0.45. This suggests that family...

Persistent link: https://www.econbiz.de/10001920916

Pay for percentile

Barlevy, Gadi; Neal, Derek - Federal Reserve Bank of Chicago - 2009

We propose an incentive pay scheme for educators that links educator compensation to the ranks of their students within appropriately defined comparison sets, and we show that under certain conditions our scheme induces teachers to allocate socially optimal levels of effort to all students....

Persistent link: https://www.econbiz.de/10008636092

Recent evidence on the relationship between unemployment and wage growth

Aaronson, Daniel; Sullivan, Daniel - Federal Reserve Bank of Chicago - 2000

The current expansion has delivered the lowest unemployment rates in decades, yet nominal wage growth has remained relatively contained. This suggests to some a shift in the historical relationship between unemployment and wage growth. We look across the states for more timely evidence of a...

Persistent link: https://www.econbiz.de/10005419896

The changing pattern of wage growth for low skilled workers

French, Eric; Mazumder, Bhashkar; Taber, Christopher - Federal Reserve Bank of Chicago - 2005

We examine the key components that determine an individual's early career wage growth and how these factors have changed for less skilled workers over the last twenty years. In particular, we examine the relative importance of accumulating work experience as compared to the quality of job...

Persistent link: https://www.econbiz.de/10005419904

Earnings inequality and the business cycle

Barlevy, Gadi; Tsiddon, Daniel - Federal Reserve Bank of Chicago - 2004

Economists have long viewed recessions as contributing to increasing inequality. However, this conclusion is largely based on data from a period in which inequality was increasing over time. This paper examines the connection between long-run trends and cyclical variation in earnings inequality....

Persistent link: https://www.econbiz.de/10005419911

Women and the Phillips curve: do women’s and men’s labor market outcomes differentially affect real wage growth and inflation?

Anderson, Katharine; Barrow, Lisa; Butcher, Kristin - Federal Reserve Bank of Chicago - 2003

During the economic expansion of the 1990s, the United States enjoyed both low inflation rates and low levels of unemployment. Juhn, Murphy, and Topel (2002) point out that the low unemployment rates for men in the 1990s were accompanied by historically high rates of non-employment suggesting...

Persistent link: https://www.econbiz.de/10005419953

The impact of Mexican immigrants on U.S. wage structure

Toussaint-Comeau, Maude - Federal Reserve Bank of Chicago - 2007

areas have had no effect on the relative wages of very low-skill (high school dropouts). Rather, Mexican workers do affect … relative wages for high school graduates. Whereas Card and Lewis’ study uses variations across geographies, this paper … relationship between the composition of Mexican immigrants across occupations/industries and average wages in the occupations …

Persistent link: https://www.econbiz.de/10005419992

Size-dependent regulations, firm size distribution, and reallocation

Gourio, François; Roys, Nicolas - Federal Reserve Bank of Chicago - 2013

In France, firms with 50 employees or more face substantially more regulation than firms with less than 50. As a result, the size distribution of firms is visibly distorted: there are many firms with exactly 49 employees. We model the regulation as the combination of a sunk cost that must be...

Persistent link: https://www.econbiz.de/10010702289