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Author : Silke Anger
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)
Download or read book The Cyclicality of Effective Wages Within Employer-employee Matches in a Rigid Labor Market written by Silke Anger and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Silke Anger
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (22 download)
Download or read book The Cyclicality of Effective Wages Within Employer Employee Matches written by Silke Anger and published by . This book was released on 2007 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Eran B. Hoffmann
Publisher : International Monetary Fund
ISBN 13 : 1484353560
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 : Silke Anger
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (118 download)
Download or read book The Cyclicality of Effective Wages Within Employer-employee Matches written by Silke Anger and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using individual based micro-data from the German Socio-Economic Panel Study (SOEP), I analyze the cyclicality of real wages for male workers within employer-employee matches over the period 1984-2004, and compare different wage measures: the standard hourly wage rate, hourly wage earnings including overtime and bonus payments, and the effective wage, which takes into account not only paid overtime, but also unpaid working hours. None of the hourly wage measures is shown to exhibit cyclicality except for the group of salaried workers with unpaid overtime. Their effective wages react strongly to changes in unemployment in a procyclical way. Despite acyclical wage rates, salaried workers without unpaid hours but with income from extra payments, such as bonuses, experienced procyclical earnings movements. Monthly earnings were also procyclical for hourly paid workers who received overtime payments. The procyclicality of earnings revealed for Germany is of comparable size with the one in the U.S.
Author : Silke Anger
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (642 download)
Download or read book The Cyclicality of Effective Wages Within Emplyer-employee Matchas written by Silke Anger and published by . This book was released on 2007 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using individual based micro-data from the German Socio-Economic Panel Study (SOEP), I analyze the cyclicality of real wages for male workers within employer-employee matches over the period 1984-2004, and compare different wage measures : the standard hourly wagerate, hourly wage earnings including overtime and bonus payments, and the effective wage, which takes into account not only paid overtime, but also unpaid working hours. None of the hourly wage measures is shown to exhibit cyclicality except for the group of salaried workers with unpaid overtime. Their effective wages react strongly to changes in unemployment in a procyclical way. Despite a cyclical wage rates, salaried workers without unpaid hours but with income from extra payments, such as bonuses, experienced procyclical earnings movements. Monthly earnings were also procyclical for hourly paid workers who received over time payments. The procyclicality of earnings revealed for Germany is of comparable size with the one in the U.S.
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 : Paul J. Devereux
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Cyclicality of Real Wages Within Employer-Employee Matches written by Paul J. Devereux and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data from the Panel Study of Income Dynamics, the author examines the cyclicality of wages within employer-employee matches for the years 1970-91. Recent research on wage cyclicality has suggested that wages are very procyclical (tending to rise and fall with economic upturns and downturns), even for workers who remain with the same employer. The author finds, however, that the evidence for wage procyclicality within the matches he examines is rather weak except for the small group of workers who were paid by piece rate or commissions. Despite having acyclical wage rates, men who were paid hourly had earnings movements that were very procyclical. Salaries exhibited little cyclicality, but salaried workers who had income sources from bonuses, commissions, or overtime had procyclical earnings. The results suggest that the increasing prevalence of incentive-based pay will increase the procyclicality of wages within matches.
Author : Donggyun Shin
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (255 download)
Download or read book New Evidence on Real Wage Cyclicality Within Employer-employee Matches written by Donggyun Shin and published by . This book was released on 2006 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the most thorough study to date on wage cyclicality among job stayers, Devereux's (2001) analysis of men in the Panel Study of Income Dynamics produced two puzzling findings: (1) the real wages of salaried workers are noncyclical, and (2) wage cyclicality among hourly workers differs between two alternative wage measures. We examine these puzzles with additional evidence from other sources. Devereux's finding of noncyclical real wages among salaried job stayers is not replicated in the National Longitudinal Survey of Youth data. The NLSY data, however, do corroborate his finding of a discrepancy for hourly workers between the cyclicality of the two alternative wage measures. Evidence from the PSID Validation Study contradicts Devereux's conjecture that the discrepancy might be due to a procyclical bias from measurement error in average hourly earnings. Evidence from the Bureau of Labor Statistics establishment survey supports his hypothesis that overtime work accounts for part (but not all) of the discrepancy. We conclude that job stayers' real average hourly earnings are substantially procyclical and that an important portion of that procyclicality probably is due to compensation beyond base wages.
Author : Paul J. Devereux
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (388 download)
Download or read book Wages and Labor Market Assignment written by Paul J. Devereux and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter four examines nominal wage rigidity, which is another factor that affects wage adjustment within employer-employee matches. The main finding is that about three percent of workers take nominal wage cuts in any one year and that workers who are overpaid because of nominal wage rigidities are less likely to quit their jobs.
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 : Mr.Eswar Prasad
Publisher : International Monetary Fund
ISBN 13 : 1451974620
Total Pages : 38 pages
Book Rating : 4.4/5 (519 download)
Download or read book The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages written by Mr.Eswar Prasad and published by International Monetary Fund. This book was released on 1993-05-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same degree of cyclical variation in wages. However, important differences emerge in the patterns of employment and hours variation for skilled versus unskilled workers, especially when a college degree is used as a proxy for skills. We find that the quality of labor input per manhour tends to rise in recessions, thereby inducing a countercyclical bias in aggregate measures of the real wage. We also find substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, which we interpret as indicative of important inter-industry differences in labor contracting.
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 : Robert Ernest Hall
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.0/5 ( download)
Download or read book Employment Efficiency and Stick Wages written by Robert Ernest Hall and published by . This book was released on 2005 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "I consider three views of the labor market. In the first, wages are flexible and employment follows the principle of bilateral efficiency. Workers never lose their jobs because of sticky wages. In the second view, wages are sticky and inefficient layoffs do occur. In the third, wages are also sticky, but employment governance is efficient. I show that the behavior of flows in the labor market strongly favors the third view. In the modern U.S. economy, recessions do not begin with a burst of layoffs. Unemployment rises because jobs are hard to find, not because an unusual number of people are thrown into unemployment"--National Bureau of Economic Research web site.
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264115838
Total Pages : 277 pages
Book Rating : 4.2/5 (641 download)
Download or read book OECD Employment Outlook 2011 written by OECD and published by OECD Publishing. This book was released on 2011-09-15 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2011 edition of the OECD Employment Outlook highlights policy issues related to: the recent economic crisis and the adequacy of income support for the unemployed; social protection and labour markets in emerging economies; earnings volatility; and qualifications mismatch.
Author : Pierre-Richard Agénor
Publisher : International Monetary Fund
ISBN 13 : 1451854781
Total Pages : 98 pages
Book Rating : 4.4/5 (518 download)
Download or read book The Labor Market and Economic Adjustment written by Pierre-Richard Agénor and published by International Monetary Fund. This book was released on 1995-11-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Author : Christian Merkl
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
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.
Author : Faruk Balli
Publisher : Springer Nature
ISBN 13 : 9464630523
Total Pages : 1691 pages
Book Rating : 4.4/5 (646 download)
Download or read book Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022) written by Faruk Balli and published by Springer Nature. This book was released on 2022-12-28 with total page 1691 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book. As a leading role in the global megatrend of scientific innovation, China has been creating a more and more open environment for scientific innovation, increasing the depth and breadth of academic cooperation, and building a community of innovation that benefits all. Such endeavors are making new contributions to the globalization and creating a community of shared future. To adapt to this changing world and China's fast development in the new era, The 2022 International Conference on Economics, Smart Finance and Contemporary Trade to be held in July 2022. This conference takes "bringing together global wisdom in scientific innovation to promote high-quality development" as the theme and focuses on cutting-edge research fields including Economics, Smart Finance and Contemporary Trade. This conference aims to boost development of the Greater Bay Area, expand channels of international academic exchange in science and technology, build a sharing platform of academic resources, promote scientific innovation on the global scale, strengthen academic cooperation between China and the outside world, enhance development of new energy and materials and IT, AI, and biomedicine industries. It also aims to encourage exchange of information on frontiers of research in different areas, connect the most advanced academic resources in China and the world, turn research results into industrial solutions, and bring together talents, technologies and capital to boost development.
