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Real wage cyclicality in the Eurozone before and during the Great Recession : evidence from micro data

Verdugo, Gregory - 2015

We study the response of real wages to the business cycle in eight major Eurozone countries before and during the Great Recession. Average real wages are found to be acyclical, but this reflects, in large part, the effect of changes in the composition of the labour force related to unemployment...

Persistent link: https://www.econbiz.de/10011386663

Wage flexibility and employment fluctuations : evidence from the housing sector

Pischke, Jörn-Steffen - 2016

Many economists suspect that downward nominal wage rigidities in ongoing labor contracts are an important source of employment fluctuations over the business cycle but there is little direct empirical evidence on this conjecture. This paper compares three occupations in the housing sector with...

Persistent link: https://www.econbiz.de/10011517457

How cyclical is the user cost of labor?

Kudlyak, Marianna - 2024

firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of … economic conditions at the time of hiring on future wages. Measured by the labor's user cost, the price of labor is … substantially more pro-cyclical than the new-hire wage or the average wage. The strong procyclicality of the price of labor calls …

Persistent link: https://www.econbiz.de/10014507553

A test of the 'Krugman hypothesis' for the United States, Britain, and Western Germany

Puhani, Patrick A. (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001752061

The vanishing procyclicality of labor productivity

Galí, Jordi; Rens, Thijs van - 2010

We document three changes in postwar US macroeconomic dynamics: (i) the procyclicality of labor productivity has vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real wage has risen. We propose an explanation for all three...

Persistent link: https://www.econbiz.de/10008779865

Downward real wage rigidity and equal treatment wage contracts : theory and evidence

Snell, Andy; Stüber, Heiko; Thomas, Jonathan P. - 2018

price themselves into jobs by undercutting incumbents – imply that real wages are relatively rigid in "bad" times but …

Persistent link: https://www.econbiz.de/10011855567

Government deficit shocks and Okun's coefficient volatility : new insights on the austerity versus growth debate

Binh Thai Pham; Sala, Hector - 2019

Unites States of America (USA). We confirm the heterogeneity of Okun's coefficient across country, and its time … and USA in between. Policy wise, we claim that austerity policies may have unexpected adverse effects on job creation if …

Persistent link: https://www.econbiz.de/10012054782

Wage cyclicalities and labor market dynamics at the establishment level : theory and evidence

Merkl, Christian; Stüber, Heiko - 2017

Using the new AWFP dataset that covers all German establishments, we document a substantial cross-sectional heterogeneity of establishments' average real wages over the business cycle. While the median establishments' real wages are procyclical, there is a large fraction of establishments with...

Persistent link: https://www.econbiz.de/10011735900

Scars of recessions in a rigid labor market

Cockx, Bart; Ghirelli, Corinna - 2015

We study the impact of graduating in a recession in Flanders (Belgium), i.e. in a rigid labor market. In the presence of a high minimum wage, a typical recession hardly influences the hourly wage of low educated men, but reduces working time and earnings by about 4.5% up to twelve years after...

Persistent link: https://www.econbiz.de/10010488823

The quality-adjusted cyclical price of labor

Bils, Mark; Kudlyak, Marianna; Lins, Paulo - 2023

price of labor of about 15%. …

Persistent link: https://www.econbiz.de/10014248987

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