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Although the adverse labor market effects of economic recessions have been well documented, a notable omission in the literature is how recessions impact workers’ job match quality. This paper considers the short and longer-term losses in productivity associated with the job changing brought...
Persistent link: https://www.econbiz.de/10012238463
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
can commit to wage contracts but cannot commit not to replace incumbent workers. Workers are risk averse, so that there …
Persistent link: https://www.econbiz.de/10010237280
We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business … wages. We estimate a negative connection between establishments' wage cyclicality and their employment cyclicality, thereby …
Persistent link: https://www.econbiz.de/10012619265
This paper documents the role of unemployment and earnings risk in reconciling evidence in payoff differentials between self-employment and paid-employment. Using Spanish administrative data, we characterize the distribution and dynamics of earnings and document lower and less dispersed earnings...
Persistent link: https://www.econbiz.de/10014543846
Persistent link: https://www.econbiz.de/10013428556
We present a new and simple empirical methodology to identify relative wage rigidity dynamics. The methodology is … relative wage and unemployment differentials for various labour market defining characteristics. A simultaneous increase in the … relative wage and the unemployment likelihood is defined as a relative wage rigidity dynamic for a labour market characteristic …
Persistent link: https://www.econbiz.de/10013428349
transitions between labor status or jobs, whereas for those at the top, earnings changes are mainly induced by wage rate growth …
Persistent link: https://www.econbiz.de/10013224084
reallocate mostly to low capital-intensive firms, experiencing persistent wage losses. …
Persistent link: https://www.econbiz.de/10014440036
moments of the distributions of earnings, employment and wage shocks across individuals. Our main finding is that …
Persistent link: https://www.econbiz.de/10011624196