stock prices even though TFP does not change significantly for more than 2 years. A labor search model in which wages are …‐finding rates. The proposed wage rule is consistent with empirical responses of wages to both anticipated and unanticipated …

-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 countercyclical real wages. We are the first to show that … establishments with more procyclical wages have a less procyclical hires rate and employment behavior. We propose a labor market flow …

cyclicality of hourly wages is muted, suggesting that head's labor income risk is mainly coming from the volatility of hours …We investigate cyclicality of variance and skewness of household labor income risk using PSID data. There are five main …. Third, younger households face stronger cyclicality of income volatility than older ones, although the level of volatility …

cyclicality of hourly wages is muted, suggesting that head's labor income risk is mainly coming from the volatility of hours …We investigate cyclicality of variance and skewness of household labor income risk using PSID data. There are five main …. Third, younger households face stronger cyclicality of income volatility than older ones, although the level of volatility …

dynamic behavior of the labor share of GDP. The counter-cyclicality of hiring rates and job values, which may appear counter …

This paper studies the employment and wage effects of contract staggering, i.e., the staggered nature in which wages …, we estimate the causal effect of increases in base wages mandated by collective agreements signed right before the shock … rigidity much higher than that assumed in macroeconomic models including staggered wages. Instead, we show that firms were able …

adopted by summer 2009. Remarkably, not even during the worst postwar recession did employers cut base wages to reduce costs …