Hazell, Jonathon; Taska, Bledi - 2023
Wage rigidity is an important explanation for unemployment fluctuations. In benchmark models wages for new hires are … key, but there is limited evidence on this margin. We use wages posted on vacancies, with job and establishment … upward, in two steps. First, wages change infrequently at the job level, and fall especially rarely. Second, wages do not …