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Author :
Publisher :
ISBN 13 : 9780478315080
Total Pages : 42 pages
Book Rating : 4.3/5 (15 download)
Download or read book Cyclical earnings variation and the composition of employment written by and published by . This book was released on 2008 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David C. Maré
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Cyclical Earnings Variation and the Composition of Employment written by David C. Maré and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses Statistics New Zealand's Linked Employer-Employee Database (LEED) to assess the extent and impact of such changes in the employment composition of workers and firms over this period. LEED provides comprehensive coverage of all wage and salary employment since 1999. It enables longitudinal linking of both workers and firms, and also of the jobs that link them. As the LEED data do not directly measure hours worked or hourly wages, we construct a measure of the full-time equivalent (FTE) annual earnings rate associated with each job observed. Our analysis uses a linear model that regresses log (FTE annual earnings) on worker demographics (sex and age) and aggregate male and female time effects, and also controls for the effects of constant unobserved worker and firm specific factors. We use the estimates from this model, together with the employment transition patterns of workers and firms over the period, to investigate in detail the effects of compositional change on average earnings.
Author : Eran B. Hoffmann
Publisher : International Monetary Fund
ISBN 13 : 1484356659
Total Pages : 67 pages
Book Rating : 4.4/5 (843 download)
Download or read book Employment Time and the Cyclicality of Earnings Growth written by Eran B. Hoffmann and published by International Monetary Fund. This book was released on 2018-05-16 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study how the distribution of earnings growth evolves over the business cycle in Italy. We distinguish between two sources of annual earnings growth: changes in employment time (number of weeks of employment within a year) and changes in weekly earnings. Changes in employment time generate the tails of the earnings growth distribution, and account for the increased dispersion and negative skewness in the distribution of earnings growth in recessions. In contrast, the cross-sectional distribution of weekly earnings growth is symmetric and stable over the cycle. Thus, models that rely on cyclical idiosyncratic risk, should separately account for the employment margin in their earnings process to avoid erroneous conclusions. We propose such a process, based on the combination of simple employment and wage processes with few parameters, and show that it captures the procyclical skewness in changes in earnings growth and other important features of its distribution.
Author : George H. Borts
Publisher :
ISBN 13 :
Total Pages : 228 pages
Book Rating : 4.3/5 (512 download)
Download or read book Regional Cycles of Manufacturing Employment in the United States written by George H. Borts and published by . This book was released on 1960 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ellen R. Rissman
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.3/5 ( download)
Download or read book Wage Growth and Sectoral Shifts written by Ellen R. Rissman and published by . This book was released on 1987 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark Andreas Lutz
Publisher :
ISBN 13 :
Total Pages : 434 pages
Book Rating : 4.:/5 (29 download)
Download or read book The Equilibrium Industrial Wage Structure written by Mark Andreas Lutz and published by . This book was released on 1972 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Donggyun Shin
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.3/5 (91 download)
Download or read book Cyclical Patterns of Real Wages and Employment written by Donggyun Shin and published by . This book was released on 1995 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David Pothier
Publisher : International Monetary Fund
ISBN 13 : 1498300987
Total Pages : 50 pages
Book Rating : 4.4/5 (983 download)
Download or read book Demand Composition and Income Distribution written by David Pothier and published by International Monetary Fund. This book was released on 2014-12-15 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper highlights how changes in the composition of demand affect income dispersion in the short run. We first document how the share of aggregate spending dedicated to labour-intensive goods and services shrinks (expands) during downturns (booms), and argue that this contributes to the observed pro-cyclicality of employment and output in labour-intensive industries. Using a two-sector general equilibrium model, we then assess how this demand composition channel influences the cyclical properties of the income distribution. Consistent with empirical evidence, we find income inequality to be countercyclical due to changes in the level of employment and (to a lesser extent) relative factor prices. The model also shows that wealth redistribution policies can potentially involve a trade-off between equality and output, depending on how they affect the composition of aggregate demand.
Author : Anja Bauer
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book History Dependence in Wages and Cyclical Selection written by Anja Bauer and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 with a variety of contract models. Taking into account composition effects as well as cyclical variation in unobserved match quality, we find that wages of new hires from unemployment are no more cyclical, but those of job changers are more cyclical than those of existing workers. We argue that much of the excess wage cyclicality of new hires discussed by the literature can be explained by cyclical job ladder movements in match quality of new hires from employment. In a novel empirical approach, where we further take into account occupational selection, we show that if job ladder movements accompany a simultaneous change of employers and occupations, the resulting wages are particularly cyclical sensitive.
Author : Gary Solon
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 (243 download)
Download or read book Measuring the Cyclicality of Real Wages written by Gary Solon and published by . This book was released on 1992 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the period since the 1960's, as in other periods, aggregate time series on real wages have displayed only modest cyclicality. Macroeconomists therefore have described weak cyclicality of real wages as a salient feature of the business cycle. Contrary to this conventional wisdom, our analysis of longitudinal microdata indicates that real wages have been substantially procyclical since the 1960's. We also find that the substantial procyclicality of men's real wages pertains even to workers that stay with the same employer and that women's real wages are less procyclical than men's. Numerous longitudinal studies besides ours have documented the substantial procyclicality of real wages, but none has adequately explained the discrepancy with the aggregate time series evidence. In accordance with a conjecture by Stockman (I983), we show that the true procyclicality of real wages is obscured in aggregate time series because of a composition bias: the aggregate statistics are constructed in a way that gives more weight to low-skill workers during expansions than during recessions. We conclude that, because real wages actually are much more procyclical than they appear in aggregate statistics, theories designed to explain the supposed weakness of real wage cyclicality may be unnecessary. and theories that predict substantially procyclical real wages become more credible.
Author :
Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.:/5 (31 download)
Download or read book Monthly Labor Review written by and published by . This book was released on 2001-09 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
Author : Kim B. Clark
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (69 download)
Download or read book Demographic Differences in Cyclical Employment Variation written by Kim B. Clark and published by . This book was released on 1980 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demographic differences in patterns of employment variation over the business cycle are examined in this paper. Three primary conclusions emerge. First, both participation and unemployment must be considered in any analysis of cyclical changes in the labor market. Second, young people bear a disproportionate share of cyclical employment variation. Third, failure to consider participation has led to undue pessimism about the effect of aggregate demand policy on high unemployment groups. If participation did not surge, reduction in overall unemployment to its 1969 level would reduce the unemployment of almost all demographic groups to very low levels
Author : Carlos Carrillo-Tudela
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)
Download or read book Cyclical Earnings, Career and Employment Transitions written by Carlos Carrillo-Tudela and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the cyclical behaviour of earnings risk and career changes. We document that the procyclical skewness of the earnings growth distribution arises mostly from the earnings changes of employer and occupation switchers. To uncover their relative importance in driving cyclical earnings changes and whether this arises from changes in the returns to mobility or mobility shocks, we propose a multi-sector business cycle model with on-the-job search and endogenous occupational mobility. Idiosyncratic occupational mobility is the main driver of cyclical earnings risk, mainly due to cyclical shifts in the returns to this mobility. This is the main reason why the sullying effects of recessions are long-lasting. These effects manifest themselves through a collapse of the job ladder and forgone lifetime earnings gains, especially for low-paid workers, and through large lifetime earnings losses among high-paid workers who experience forced occupational mobility and poor re-employment outcomes.
Author : Victor Zarnowitz
Publisher :
ISBN 13 :
Total Pages : 86 pages
Book Rating : 4.3/5 (9 download)
Download or read book Major Changes in Cyclical Behavior written by Victor Zarnowitz and published by . This book was released on 1984 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Various structural, institutional, and policy changes have contributed to the evolution of business cycles, since World War II business expansions have been much longer and contractions much shorter than before. Over nearly 200 years of U.S. history expansions have been long relative to contractions when prices had upward secular trends, and shorter when price trends were down. The rising price trend since the 1930's fits this pattern, although we find no association between the rate of inflation during each business cycle and the relative duration of the phases. Shifts in the industrial composition of employment, in labor-force participation, and in the distribution of personal income have all contributed to the post-1945 moderation of cyclical amplitudes. The variability of economic change was low by historical standards in both 1948-69 and 1969-81, although the inflation rate was much higher and real growth on the average lower after 1969. The recent long-term inflation is attributable mainly to the new persistence of upward price movements in business cycle contractions rather than to more rapid price increases during expansions. But prices have always been sensitive to the degree of severity of business contractions, and they still are. The same is true of short-terminterest rates, although they became more sensitive during 1949-82 than before. Despite the deep changes in the economy, many basic characteristics of the business cycle remain unchanged, notably the timing relationships among groups of leading and lagging indicators.
Author : Beth Anne Wilson
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.E/5 ( download)
Download or read book Movements of Wages Over the Business Cycle written by Beth Anne Wilson and published by . This book was released on 1997 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Shimer
Publisher : Princeton University Press
ISBN 13 : 1400835232
Total Pages : 189 pages
Book Rating : 4.4/5 (8 download)
Download or read book Labor Markets and Business Cycles written by Robert Shimer and published by Princeton University Press. This book was released on 2010-04-12 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
Author : James A. Kurre
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.0/5 ( download)
Download or read book Cyclical Adjustments in Wages, Employment and Hours Worked in the Erie Economy written by James A. Kurre and published by . This book was released on 1987 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
