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Using administrative data from Germany, this paper analyzes the relation between wages and past and current labor market conditions. Specifically, it explores whether the data is more consistent with implicit contract models (Beaudry/DiNardo, 1991) or a matching model with on-the-job search and...
Persistent link: https://www.econbiz.de/10011544266
Many economists suspect that downward nominal wage rigidities in ongoing labor contracts are an important source of … compares three occupations in the housing sector with very different wage setting institutions, real estate agents, architects … labor demand shocks to the industry. The employment of real estate agents, whose pay is far more flexible than the other …
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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 … SILC panels to control for composition effects, we estimate the elasticities of real wage growth to unemployment increases …
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Using administrative employer-employee data from Germany, we investigate the relationship between wages and past and present labor market conditions. Furthermore, we revisit recent findings of greater wage cyclicality of new hires. Overall, we find strong evidence for history dependent wages,...
Persistent link: https://www.econbiz.de/10012027613
Persistent link: https://www.econbiz.de/10011911122
Using employer-employee data from Germany, this paper analyzes the relationship between wages and past and contemporaneous labor market conditions. Specifically, we test the implications of implicit contract models (Beaudry and DiNardo, 1991) and an on-the-job search model (Hagedorn and...
Persistent link: https://www.econbiz.de/10011756338