We provide a set of stylized facts on the response of industry nominal wage growth to aggregate and industry- specific influences using annual data for 450 U.S. manufacturing industries over the period 1958 to 1989. We find support for the canonical wage contracts model; the response of nominal...

In this paper, we re-examine two important aspects of the dynamics of relative primary commodity prices, namely the secular trend and the short run volatility. To do so, we employ 25 series, some of them starting as far back as 1650 and powerful panel data stationarity tests that allow for...

We construct unanticipated government spending shocks for 103 developing countries from 1990 to 2015 and study their effects on income distribution. We find that unanticipated fiscal consolidations lead to a long-lasting increase in income inequality, while fiscal expansions lower inequality....