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Wage Adjustment in the Great Recession
Solon, Gary; Elsby, Michael W.; Shin, Donggyun - National Bureau of Economic Research (NBER) - 2013
Using 1979-2011 Current Population Survey data for the United States and 1975-2011 New Earnings Survey data for Great Britain, we study wage behavior in both countries, with particular attention to the Great Recession. Real wages are procyclical in both countries, but the procyclicality of real...
Persistent link: https://www.econbiz.de/10010969431
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Fixed-Term Employment Contracts in an Equilibrium Search Model
Alvarez, Fernando; Veracierto, Marcelo - National Bureau of Economic Research (NBER) - 2006
This paper analyzes the effects of fixed-term contracts using a version of the Lucas and Prescott island model with undirected search. A fixed-term contract of length J is modeled as a tax on separations of workers with tenure higher than J . While in principle these policies require a very...
Persistent link: https://www.econbiz.de/10005710122
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Wage Formation between Newly Hired Workers and Employers: Survey Evidence
Krueger, Alan B.; Hall, Robert E. - National Bureau of Economic Research (NBER) - 2008
Some workers bargain with prospective employers before accepting a job. Others could bargain, but find it undesirable, because their right to bargain has induced a sufficiently favorable offer, which they accept. Yet others perceive that they cannot bargain over pay; they regard the posted wage...
Persistent link: https://www.econbiz.de/10005829126
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Evidence on the Determinants of the Choice between Wage Posting and Wage Bargaining
Krueger, Alan B.; Hall, Robert E. - National Bureau of Economic Research (NBER) - 2010
Some workers bargain with prospective employers before accepting a job. Others face a posted wage as a take-it-or-leave-it opportunity. Theories of wage formation point to substantial differences in labor-market equilibrium between bargained and posted wages. We surveyed a representative sample...
Persistent link: https://www.econbiz.de/10008610979
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The Labor Market Four Years Into the Crisis: Assessing Structural Explanations
Rothstein, Jesse - National Bureau of Economic Research (NBER) - 2012
Four years after the beginning of the Great Recession, the labor market remains historically weak. Many observers have concluded that "structural" impediments to recovery bear some of the blame. This paper reviews such structural explanations. I find that there is little evidence supporting...
Persistent link: https://www.econbiz.de/10011188535
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Wage Dispersion in the Search and Matching Model with Intra-Firm Bargaining
Mortensen, Dale T. - National Bureau of Economic Research (NBER) - 2009
Matched employer-employee data exhibits both wage and productivity dispersion across firms and suggest that a linear relationship holds between the average wage paid and a firm productivity. The purpose of this paper is to demonstrate that these facts can be explained by a search and matching...
Persistent link: https://www.econbiz.de/10004991959
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Mismatch, Sorting and Wage Dynamics
Lise, Jeremy; Meghir, Costas; Robin, Jean-Marc - National Bureau of Economic Research (NBER) - 2013
impacts from optimal unemployment insurance policy. Here optimal policy is defined as that which maximizes total output and …
Persistent link: https://www.econbiz.de/10010796609
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Knowledge-based Hierarchies: Using Organizations to Understand the Economy
Rossi-Hansberg, Esteban; Garicano, Luis - National Bureau of Economic Research (NBER) - 2014
We argue that incorporating the decision of how to organize the acquisition, use, and communication of knowledge into economic models is essential to understand a wide variety of economic phenomena. We survey the literature that has used knowledge-based hierarchies to study issues like the...
Persistent link: https://www.econbiz.de/10010950675
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Stepping Off the Wage Escalator: The Effects of Wage Growth on Equilibrium Employment
Shapiro, Matthew D.; Elsby, Michael W. L. - National Bureau of Economic Research (NBER) - 2009
This paper emphasizes the role of wage growth in shaping work incentives. It provides an analytical framework for labor supply in the presence of a return to labor market experience and aggregate productivity growth. A key finding of the theory is that there is an interaction between these two...
Persistent link: https://www.econbiz.de/10005085133
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Recessions and the Cost of Job Loss
Davis, Steven; von Wachter, Till Marco - National Bureau of Economic Research (NBER) - 2011
-displacement earnings if displaced in mass-layoff events that occur when the national unemployment rate is below 6 percent. They lose a … staggering 2.8 years of pre-displacement earnings if displaced when the unemployment rate exceeds 8 percent. These results … opportunities respond to contemporaneous economic conditions. Finally, we confront leading models of unemployment fluctuations with …
Persistent link: https://www.econbiz.de/10009372449