This paper provides evidence for the existence of a wage curve - a micro-econometric association between the level of pay and the local unemployment rate - in modern U.S. data. Consistent with recent evidence from more than 40 other countries, the wage curve in the United States has a long-run...

What makes workers happy? Here we argue that pure ?rank? matters. It is currently believed that wellbeing is determined partly by an individual?s absolute wage (say, 30,000 dollars a year) and partly by the individual?s relative wage (say, 30,000 dollars compared to an average in the company or...