Similar Search Results

The Causes of Business Cycles and the Cyclicality of Real Wages

Fleischman, Charles A. - 2000

A model's ability to explain procyclical movements in real wages has become an important benchmark by which macroeconomists judge business cycle theories. Because Keynesian models with sticky nominal wages predict countercyclical real wages, they have been criticized and dismissed in favor of...

Persistent link: https://www.econbiz.de/10014170140

Measuring the Cyclicality of Real Wages : How Important is Aggregation Across Industries?

Swanson, Eric T. - 2000

There is a growing consensus among economists that real wages in the postwar U.S. have been moderately to strongly procyclical, particularly in panel data on workers. From the point of view of hiring decisions of firms, however, this conclusion may be premature or even erroneous. Whether a...

Persistent link: https://www.econbiz.de/10014170141

Why Does the Cyclical Behavior of Real Wages Change Over Time?

Huang, Kevin X. D.; Liu, Zheng; Phaneuf, Louis - 2003

This paper seeks to understand the evolution of the cyclical behavior of U.S. real wage rates from the interwar period to the post World War II period using a dynamic general equilibrium model that emphasizes demand-driven business cycle fluctuations. In the model, changes in the cyclical...

Persistent link: https://www.econbiz.de/10014088238

Demand Shocks and the Cyclical Behavior of the Real Wage : Some International Evidence

Kandil, Magda - 2010

The focus of this investigation is on the cyclical response of the real wage to demand shocks. This response differentiates the empirical validity of major New Keynesian explanations of business cycles. The empirical evidence, across industrial countries, highlights a moderate positive...

Persistent link: https://www.econbiz.de/10013142097

Why are the wages of job stayers procyclical?

Shin, Donggyun; Shin, Kwanho - 2003

This paper explains how real wages are procyclical for those who stay with the same employer. On the basis of the Panel Study of Income Dynamics data for the period of 1974-75 to 1990-91, we find that the substantial wage procyclicality among job stayers is mostly accounted for by great wage...

Persistent link: https://www.econbiz.de/10010332411

Disequilibrium macroeconomic dynamics, income distribution and wage-price Phillips curves : evidence from the US and the euro area

Proaño Acosta, Christian; Flaschel, Peter; Ernst, Ekkehard - 2006

Autoren auf der Basis von hochaggregierten Zeitreihen für die USA und den Euroraum strukturelle Parameterschätzwerte. Diese … indirekt der Einkommensverteilung für die Dynamik von Lohn- und Preisinflation in den USA und im Euroraum auf. …

Persistent link: https://www.econbiz.de/10003744531

The Great Increase in Relative Volatility of Real Wages in Ithe United States

Champagne, Julien; Kurmann, Andre - 2010

This paper documents that over the past 25 years, aggregate hourly real wages in the United States have become substantially more volatile relative to output. We use micro-data from the Current Population Survey (CPS) to show that this increase in relative volatility is predominantly due to...

Persistent link: https://www.econbiz.de/10014197569

Real Wage Cyclicality in Germany and the UK : New Results Using Panel Data

Peng, Fei; Siebert, Stanley - 2021

This paper compares the cyclical behaviour of male real wages in Germany and the UK using the German Socio-Economic Panel 1984-2002 and the British Household Panel Survey 1991-2004. We distinguish between job stayers (remaining in the same job), and within- and between-company job movers....

Persistent link: https://www.econbiz.de/10013317163

New job matches and their stability before and during the crisis

Nagore, Amparo; Soest, Arthur van - 2015

Using administrative records data from the Spanish Social Security Administration, we analyse the nature and stability of job matches starting in two different years: during the economic boom in 2005, and during the recession in 2009. We compare the individual and job and firm characteristics in...

Persistent link: https://www.econbiz.de/10011407936

Cyclicality of real wages in the USA and Germany: New insights from wavelet analysis

Marczak, Martyna; Gómez, Víctor - 2012

This article provides new insights into the cyclical behavior of consumer and producer real wages in the USA and … cyclical patterns over time. From the findings of our study, we can infer that the USA and Germany differ with respect to the … lead-lag relationship of real wages and the business cycle. In the USA, both real wages are leading the business cycle in …

Persistent link: https://www.econbiz.de/10010309235