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Downward Rigidity in the Wage for New Hires

Hazell, Jonathon; Taska, Bledi - 2023

Wage rigidity is an important explanation for unemployment fluctuations. In benchmark models wages for new hires are … information, to measure the wage for new hires. We show that our measure of the wage for new hires is rigid downward and flexible …

Persistent link: https://www.econbiz.de/10014469565

Equilibrium Wage Rigidity in A Search and Matching Model with Replacement Hiring

Teramoto, Kazuhiro - 2022

I propose a new search-and-matching model in which wage rigidity and volatile unemployment endogenously arise. The … responsive to productivity fluctuations by increasing procyclicality of the firm's outside option value in wage negotiations …

Persistent link: https://www.econbiz.de/10014083443

Higher-order income risk over the business cycle

Busch, Christopher; Ludwig, Alexander - 2020

We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness and excess kurtosis, to which we refer as higherorder risk. We estimate our extended income process by GMM for household data from the United States. We find countercyclical...

Persistent link: https://www.econbiz.de/10012182809

Higher-order income risk over the business cycle

Busch, Christopher; Ludwig, Alexander - 2020

We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household data from the United States. We find countercyclical...

Persistent link: https://www.econbiz.de/10012215285

Életpálya-kereseti profilok és keresetingadozás

Gábor, István R. (contributor) - 2008

Built upon data from 11 subsequent waves of yearly wage surveys carried out by the National Labour Center in Hungary …

Persistent link: https://www.econbiz.de/10003774181

Fiscal policy and the labour market : the effect of public sector employment and wages

Gomes, Pedro - 2010

, the government faces recruitment problems. The optimal steady-state wage premium depends mainly on the labour market … the optimal policy can increase the volatility of unemployment significantly. Public sector wage and employment shocks … have mixed effects on unemployment. A wage shock raises the unemployment rate, while a reduction in the separations lowers …

Persistent link: https://www.econbiz.de/10009302182

Earnings Risk in the Household : Evidence from Millions of U.S. Tax Returns

Pruitt, Seth - 2019

Using detailed IRS administrative data on millions of households, we find that households effectively insure against much of the risk facing primary earners. We show that households face less risk than males alone, and households face roughly half the countercyclical risk increase. As a result...

Persistent link: https://www.econbiz.de/10012900172

Fiscal Policy and the Labour Market : The Effects of Public Sector Employment and Wages

Gomes, Pedro - 2010

Persistent link: https://www.econbiz.de/10013135824

Cyclical skill-biased technological change

Balleer, Almut; van Rens, Thijs - 2009

Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to...

Persistent link: https://www.econbiz.de/10010276400

Skill-biased technological change and the business cycle

Balleer, Almut; Van Rens, Thijs - 2012

Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....

Persistent link: https://www.econbiz.de/10010286842