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Wage Cyclicalities And Labor Market Dynamics At The Establishment Level
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Book Synopsis Wage Cyclicalities and Labor Market Dynamics at the Establishment Level by : Christian Merkl
Download or read book Wage Cyclicalities and Labor Market Dynamics at the Establishment Level written by Christian Merkl and published by . This book was released on 2017 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the new AWFP dataset that covers all German establishments, we document a substantial cross-sectional heterogeneity of establishments' average real wages over the business cycle. While the median establishments' real wages are procyclical, there is a large fraction of establishments with countercyclical real wages. We are the first to show that establishments with more procyclical wages have a less procyclical hires rate and employment behavior. We propose a labor market flow model that is able to replicate these facts and thereby allows us to run counterfactual exercises. When we set the wage cyclicalities of all establishments to the one of the most procyclical establishments, labor market volatilities drop by more than 50 percent.
Book Synopsis Wage and Employment Cyclicalities at the Establishment Level by : Christian Merkl
Download or read book Wage and Employment Cyclicalities at the Establishment Level written by Christian Merkl and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the quantitative relationship between employment cyclicality and wage cyclicality is central for the dynamics of macroeconomic models, there is little empirical evidence on this topic. We use the German AWFP dataset to document that wage cyclicalities are very heterogeneous across establishments. Based on this heterogeneity, we estimate the relationship between employment cyclicality and wage cyclicality at the establishment level. We use this micro-estimate as a calibration target for a macro labor market flow model with heterogeneous wage dynamics that nests the standard search and matching model. Based on this micro-macro linkage, we provide a new quantitative benchmark for the role of wage rigidity in search and matching models. Furthermore, we show that acyclical and countercyclical wage establishments are key drivers for stronger labor market reactions in recessions than in booms.
Book Synopsis Employment Time and the Cyclicality of Earnings Growth by : Eran B. Hoffmann
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.
Book Synopsis U.S. Labor Market Dynamics Revisited by : Eran Yashiv
Download or read book U.S. Labor Market Dynamics Revisited written by Eran Yashiv and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Understanding U.S. Wage Dynamics by : Mr.Yasser Abdih
Download or read book Understanding U.S. Wage Dynamics written by Mr.Yasser Abdih and published by International Monetary Fund. This book was released on 2018-06-15 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we undertake empirical analysis to understand U.S. wage behavior since the beginning of the new millennium. At the macroeconomic level, we find that a productivity-augmented Phillips curve model explains the data fairly well. The model reveals that the upward pressure on wage growth from recent tightening in the labor market has been dampened by a persistent decline in trend labor productivity growth and the share of income that accrues to labor. These themes are reinforced and complemented at the micro-economic level. Lower regional unemployment puts an upward pressure on wages of individuals, although this effect has become weaker since 2008. But there is downward pressure on wages for individuals with occupations that are exposed to automation and offshoring, and in industries with a higher concentration of large firms. All these factors appear to play a role illustrating why it is difficult to single out any one culprit for the observed wage growth moderation.
Book Synopsis Labor Market Dynamics when Efforts Depends on Wage Growth Comparisons by : David De la Croix
Download or read book Labor Market Dynamics when Efforts Depends on Wage Growth Comparisons written by David De la Croix and published by . This book was released on 1996 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage Dynamics and Labor Market Transitions: a Reassessment Through Total Income and "usual" Wages by : Maria E. Canon
Download or read book Wage Dynamics and Labor Market Transitions: a Reassessment Through Total Income and "usual" Wages written by Maria E. Canon and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Cyclicality of Real Wages and Wage Differentials by : Christopher Otrok
Download or read book On the Cyclicality of Real Wages and Wage Differentials written by Christopher Otrok and published by . This book was released on 2008 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Employment Cost Index and Employee Benefits Survey by :
Download or read book Employment Cost Index and Employee Benefits Survey written by and published by . This book was released on 1995 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labor Market Dynamics and Institutions by :
Download or read book Labor Market Dynamics and Institutions written by and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyse labor market dynamics with an agent based model, which replicates a set of stylized facts in the labor market as well as aggregate regularities. We are able to reproduce the Beveridge curve, job creation and destruction flows, a persistent unemployment level, and wages stickiness. On the aggregate level, we observe a self-enforcing process of real income growth and average productivity growth. Model simulations allow us study the role of dynamic interactions among agents -individuals and firms- in a changing environment shaped by institutions. The key features are the microfoundations of the processes governing the labor market, such as job search by individuals, and matching and bargaining among firms and potential employees. -- Unemployment ; Beveridge curve ; Matching ; Technical Change
Book Synopsis Assessing Labor Market Concentration's Influence on Wages in the Aftermath of Covid-19 by : Katelyn Davis
Download or read book Assessing Labor Market Concentration's Influence on Wages in the Aftermath of Covid-19 written by Katelyn Davis and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research has shown that U.S. labor markets are highly concentrated, threatening the welfare of American workers by lowering wages. Using establishment level data from the U.S. Census Bureau County Business Patterns, this thesis provides the first look at how the Covid-19 pandemic impacted the relationship between labor market concentration and wages in the United States. The analysis focuses on four sectors that were highly impacted by the pandemic: (1) healthcare, (2) food and accommodation, (3) arts, entertainment, and recreation, (4) and retail trade. The econometric model, using a new time period of data, confirms prior findings of a negative relationship between labor market concentration in both the arts, entertainment, and recreation and retail trade sectors. Additional analysis indicates that, in all sectors except healthcare, an increase in HHI further decreased wages in the aftermath of the pandemic. These findings serve as guidance to policy makers, highlighting the impact of the recent shifts in the labor market on workers.
Book Synopsis New Evidence on Labor Market Dynamics Over the Business Cycle by : Bhashkar Mazumder
Download or read book New Evidence on Labor Market Dynamics Over the Business Cycle written by Bhashkar Mazumder and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data from the U.S. Census Bureau's Survey of Income and Program Participation, the author investigates how much of the cyclicality in unemployment is due to variation in the job finding rate versus the job separation rate. In addition, the article explores how employment dynamics have differed by demographic subgroups.
Book Synopsis Wages in the Business Cycle by : Jonathan Michie
Download or read book Wages in the Business Cycle written by Jonathan Michie and published by Burns & Oates. This book was released on 1987 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis U.S. Labor Market Dynamics Revisited by : Eran Yashiv
Download or read book U.S. Labor Market Dynamics Revisited written by Eran Yashiv and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The picture of U.S. labor market dynamics is opaque. This paper aims at its clarification by (i) listing data facts that can be agreed upon; these indicate that there is considerable cyclicality and volatility of both accessions to and separations from employment and hence both are important for the understanding of the business cycle; (ii) presenting the business-cycle facts of key series; (iii) pointing to specific gaps in the data picture, showing that the definite characterization of labor market dynamics depends upon the closing of these data gaps.
Book Synopsis Hysteresis and Business Cycles by : Ms.Valerie Cerra
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Book Synopsis Labor Statistics Measurement Issues by : John Haltiwanger
Download or read book Labor Statistics Measurement Issues written by John Haltiwanger and published by University of Chicago Press. This book was released on 2007-12-01 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rapidly changing technology, the globalization of markets, and the declining role of unions are just some of the factors that have led to dramatic changes in working conditions in the United States. Little attention has been paid to the difficult measurement problems underlying analysis of the labor market. Labor Statistics Measurement Issues helps to fill this gap by exploring key theoretical and practical issues in the measurement of employment, wages, and workplace practices. Some of the chapters in this volume explore the conceptual issues of what is needed, what is known, or what can be learned from existing data, and what needs have not been met by available data sources. Others make innovative uses of existing data to analyze these topics. Also included are papers examining how answers to important questions are affected by alternative measures used and how these can be reconciled. This important and useful book will find a large audience among labor economists and consumers of labor statistics.
Book Synopsis The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics by : Kai Christoffel
Download or read book The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics written by Kai Christoffel and published by . This book was released on 2006 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
