This paper investigates how both inter- and intra-sectoral reallocations of workers contribute to fluctuations in the aggregate unemployment rate. On the basis of the Panel Study of Income Dynamics (PSID) data for the 1986-96 period, we construct a monthly longitudinal data set that enables us...

Using 1979-2011 Current Population Survey data for the United States and 1975-2011 New Earnings Survey data for Great Britain, we study wage behavior in both countries, with particular attention to the Great Recession. Real wages are procyclical in both countries, but the procyclicality of real...

Many recent studies have investigated trends in U.S. men's earnings volatility, but the studies based on the Panel Study of Income Dynamics appear to conflict with each other and with studies based on other data. We critique some of the existing methods of measuring earnings volatility, and we...

In the most thorough study to date on wage cyclicality among job stayers, Devereux%u2019s (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...

Using Panel Study of Income Dynamics data for 1969 through 2004, we examine movements in men's earnings volatility. Like many previous studies, we find that earnings volatility is substantially countercyclical. As for secular trends, we find that men's earnings volatility increased during the...