economic conditions at the time of hiring on future wages. Measured by the labor's user cost, the price of labor is …

Typical measures of wages, such as average hourly earnings, fail to capture cyclicality in the effective cost of labor … in the presence of (i) cyclical fluctuations in the quality of worker-firm matches, or (ii) wages being smoothed within … employment matches. To address both concerns, we estimate cyclicality in labor's user cost exploiting the long-run wage in a …

economic conditions at the time of hiring on future wages. Measured by the labor's user cost, the price of labor is …

-finding rate to the wage built into the Nash bargaining mechanism assumed to determine wages in the model, we argue that he and … productivity when wages are the outcome of a strategic bargaining game and when the elasticity of the matching function and the …

equally productive workers the same. The policy reduces wages, due to the influence of firms’ existing workers on their wage … applications, I first show that firm wages dampen wage variation over the business cycle, amplifying that in unemployment, with … quantitatively significant effects. Second, I show that firm wage firms may find it profitable to fix wages for a period of time, and …

Using administrative data from Germany, this paper analyzes the relation between wages and past and current labor … wages are related to past labor market conditions as contract theories postulate. However, past labor market conditions also … affect contemporaneous wages through the evolution of the match qualities over a worker's job history - the main hypothesis …

Using administrative employer-employee data from Germany, we investigate the relationship between wages and past and … present labor market conditions. Furthermore, we revisit recent findings of greater wage cyclicality of new hires. Overall, we … find strong evidence for history dependent wages, manifested in both hiring and retention premiums - which is consistent …

Using employer-employee data from Germany, this paper analyzes the relationship between wages and past and … business cycle. The results are mixed: On the one hand, the data suggest that wages depend on labor market conditions when a … contemporaneous wages through the evolution of match quality over a worker's job history - the main hypothesis of the on …

of the model over the business cycle. Wages are determined by long term contracts between workers and firms, with firms … producing wages that are too rigid relative to data. The key parameter governing how much volatility the model produces not only … in unemployment and vacancies but also wages, is the drop in consumption for the unemployed. In addition, explaining the …