How do wages respond to financial recessions? Based on a dynamic macroeconomic model with frictions in the labor and … and explore their effect on wages. First, the financial labor wedge reduces wages. Second, financial constraints may … interact with aggregate labor market conditions in various ways putting upward or downward pressure on wages. We test partial …

Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching … a series of estimated shocks from US data into a search and matching model with sticky prices and wages. I compare the … implications of how the sticky wages enter into the hiring decision, and there seems to be a tradeoff between generating business …

In this paper we investigate the cyclicality of real wages. The approach we take is to search for the largest possible … that the comovement of real wages can be related to a common factor that exhibits a significant but far from perfect … in the sample and (iii) roughly half of the wages move procyclically while half move countercyclically. These facts are …

In this paper we investigate the cyclicality of real wages. The approach we take is to search for the largest possible … that the comovement of real wages can be related to a common factor that exhibits a significant but far from perfect … in the sample and (iii) roughly half of the wages move procyclically while half move countercyclically. These facts are …

the time of hiring and the impact of labor market conditions at the time of hiring on future wages. The price of labor and … based on the behavior of individual wages and turnover. I find that a one percentage point increase in unemployment … individual wages and also noticeably higher than the cyclicality of the wages of newly hired workers. I conclude that the price …