We conduct an accounting exercise of the role of worker flows between unemployment, employment, and labor force nonparticipation in the dynamics of the aggregate unemployment rate across four recent recessions: 1982-1983, 1990-1991, 2001, and 2007-2009 (the Great Recession). We show that,...

We estimate real wage cyclicality in the period compressed between 1987 and 2013 using a large administrative dataset of workers in Spain. Real wages are weakly procyclical in Spain and focusing on differences in different phases of the business cycle, we find that differences across expansions...

We develop a new measure of wage rigidity, the Nash wage elasticity (NWE). The NWE is the percentage change in the actual wage rate when the wage that would occur under Nash bargaining changes by 1%. We show that the NWE can be measured from aggregate data under relatively weak assumptions which...