Carneiro, Anabela; Guimarães, Paulo; Portugal, Pedro - Institut zur Zukunft der Arbeit <Bonn> - 2009
heterogeneity in wages responses to aggregate labor marketconditions for newly hired workers and existing workers. Accounting for … both worker and firmheterogeneity, the data support the hypothesis that entry wages are much more procyclicalthan current … wages. A one-point increase in the unemployment rate decreases wages ofnewly hired male workers by around 2.8% and by just 1 …
