present labor market conditions. Furthermore, we revisit recent findings of greater wage cyclicality of new hires. Overall, we … cyclical than those of existing workers. We argue that much of the excess wage cyclicality of new hires discussed by the …

) and an on-the-job search model (Hagedorn and Manovskii, 2013) for the wage formation of different worker types over the …), we find that previous evidence for the excess wage cyclicality of job changers can be entirely explained by cyclical …-employee matches, we also find no excess wage cyclicality for new hires from unemployment - the key worker type's wage for …

present labor market conditions. Furthermore, we revisit recent findings of greater wage cyclicality of new hires. Overall, we … cyclical than those of existing workers. We argue that much of the excess wage cyclicality of new hires discussed by the …

) and an on-the-job search model (Hagedorn and Manovskii, 2013) for the wage formation of different worker types over the …), we find that previous evidence for the excess wage cyclicality of job changers can be entirely explained by cyclical …-employee matches, we also find no excess wage cyclicality for new hires from unemployment - the key worker type's wage for …

wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired … workers, unlike the aggregate wage, is volatile and responds one-to-one to changes in labor productivity. In order to … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. …

wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired … workers, unlike the aggregate wage, is volatile and responds one-to-one to changes in labor productivity. In order to … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. …

Recent research in macroeconomics emphasizes the role of wage rigidity in ac- counting for the volatility of … changes in aggregate labor market conditions. The wage of new hires, unlike the aggregate wage, is volatile and responds … almost one-to-one to changes in labor productivity. We conclude that there is little evidence for wage stickiness in the data …

Recent research in macroeconomics emphasizes the role of wage rigidity in accounting for the volatility of unemployment … aggregate labor market conditions. The wage of new hires, unlike the aggregate wage, is volatile and responds almost one …-to-one to changes in labor productivity. We conclude that there is little evidence for wage stickiness in the data. We also show …

wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired … workers, unlike the aggregate wage, is volatile and responds one-to-one to changes in labor productivity. In order to … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …