Showing 1 - 10 of 97
I propose a new mechanism for sluggish wages based on workers' noisy information about the state of the economy. Wages do not respond immediately to a positive aggregate shock because workers do not (yet) have enough information to demand higher wages. This increases firms' incentives to post...
Persistent link: https://www.econbiz.de/10011709249
Persistent link: https://www.econbiz.de/10012608587
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/10013212779
We analyse the implications of habit formation relating to wages in a multi-period efficiency-wage model. If employees …. Greater intensity does not necessarily have the same consequences, because wage adjustments counteract the initial level … impact. The firm's response additionally depends on the wage-dependency of dismissal costs since such costs make an …
Persistent link: https://www.econbiz.de/10012828115
This paper explores the relationship between the duration of a vacancy and the starting wage of a new job, using … workers eventually filling the vacancies. We find that vacancy durations are negatively correlated with the starting wage and … that this negative association is particularly strong with the establishment component of the starting wage. We also …
Persistent link: https://www.econbiz.de/10012892235
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
, search for employers, and residual wage shocks to account for these life cycle wage dynamics. We highlight the importance of … largest part of life cycle wage dynamics. It accounts for 50% of average wage growth, 50% of rising differences between gender …
Persistent link: https://www.econbiz.de/10012897647
What is the nature of labor income risk facing households? We answer this question using detailed administrative data on household earnings from the U.S. Internal Revenue Service. By analyzing total household labor earnings as well as each member's earnings, we offer several new findings. One,...
Persistent link: https://www.econbiz.de/10011932201
This paper studies the cyclical behaviour of earnings risk and career changes. We document that the procyclical skewness of the earnings growth distribution arises mostly from the earnings changes of employer and occupation switchers. To uncover their relative importance in driving cyclical...
Persistent link: https://www.econbiz.de/10014243686
firm with stochastic product demand and hiring cost (= irreversible specific investments). There is wage bargaining between …
Persistent link: https://www.econbiz.de/10010276980