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On the cyclicality of real wages and wage differentials
Otrok, Christopher M. (contributor);  … - 2008
wages, which does not impose any structure between real wages and observed cyclical indicators. In particular, we employ a … Bayesian dynamic factor model and longitudinal microdata to estimate common latent factors driving real wages. We find that the … comovement of real wages is related to a common factor that exhibits a mild correlation with the national unemployment rate. Our …
Persistent link: https://www.econbiz.de/10003746900
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Earnings and labour market volatility in Britain
Cappellari, Lorenzo; Jenkins, Stephen - 2013
We provide new evidence about earnings and labour market volatility in Britain over the period 1992-2008, and for women as well as men. (Most research about volatility refers to earnings volatility for US men.) We show that earnings volatility declined slightly for both men and women over the...
Persistent link: https://www.econbiz.de/10009770646
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Labor Market Institutions, Fiscal Multipliers, and Macroeconomic Volatility
Böck, Maximilian; Crespo Cuaresma, Jesus; Glocker, … - 2022
We study empirically how various labor market institutions – (i) union density, (ii) unemployment benefit remuneration, and (iii) employment protection – shape fiscal multipliers and output volatility. Our theoretical model highlights that more stringent labor market institutions attenuate...
Persistent link: https://www.econbiz.de/10014083477
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High discounts and low fundamental surplus : an equivalence result for unemployment fluctuations
Mitra, Indrajit; Seo, Taeuk; Xu, Yu - 2021
Ljungqvist and Sargent (2017) (LS) show that unemployment fluctuations can be understood in terms of a quantity they call the "fundamental surplus." However, their analysis ignores risk premia, a force that Hall (2017) shows is important in understanding unemployment fluctuations. We show how...
Persistent link: https://www.econbiz.de/10012649569
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Earnings instability of job stayers and job changers
Leonardi, Marco - 2003
I use the PSID to decompose the rise in wage inequality into a permanent and a transitory component. I consider separately job stayers and job changers. I find that earnings instability (the variance of the transitory component of earnings) increased much more among job changers than among job...
Persistent link: https://www.econbiz.de/10010261646
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Low skill but high volatility?
Buch, Claudia M.; Pierdzioch, Christian - 2009
-skilled labor increases. This suppresses wages of low-skilled workers and/or increases their unemployment rates. On the other hand … for the years 1970 - 2004, we document how the volatility of hours worked and of wages of workers at different skill …
Persistent link: https://www.econbiz.de/10003850520
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Uncertainty and labor market fluctuations
Jo, Soojin; Lee, Justin J. - 2019
We investigate how a macroeconomic uncertainty shock affects the labor market. We focus on the uncertainty transmission mechanism, for which we employ a set of worker flow indicators in addition to labor stock variables. We incorporate common factors from such indicators into a framework that...
Persistent link: https://www.econbiz.de/10012030061
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Time-varying job creation and macroeconomic shocks
Guglielminetti, Elisa; Pouraghdam, Meradj - In: Labour economics : official journal of the European … 50 (2018), pp. 156-179
Persistent link: https://www.econbiz.de/10012129613
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On the cyclicality of real wages and wage differentials
Otrok, Christopher; Pourpourides, Panayiotis M. - 2008
wages, which does not impose any structure between real wages and observed cyclical indicators. In particular, we employ a … Bayesian dynamic factor model and longitudinal microdata to estimate common latent factors driving real wages. We find that the … comovement of real wages is related to a common factor that exhibits a mild correlation with the national unemployment rate. Our …
Persistent link: https://www.econbiz.de/10010288748
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Earnings and Labour Market Volatility in Britain
Cappellari, Lorenzo - 2013
We provide new evidence about earnings and labour market volatility in Britain over the period 1992-2008, and for women as well as men. (Most research about volatility refers to earnings volatility for US men.) We show that earnings volatility declined slightly for both men and women over the...
Persistent link: https://www.econbiz.de/10013078825