Rebecca M. Blank considers how the flexibility of American labor markets and the regulation and redistribution policies of European labor markets may determine employers' responses to worldwide economic transformations that result in increasing wage disparity in the United States and continuing...

This paper investigates cyclicality in real wages between 1969 and 1982, using 14 years of data from the Panel Survey of Income Dynamics. First, it investigates the extent to which movements in and out of the labor market created apparent wage cyclicality. Second, it investigates whether...