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Using administrative data from Germany, this paper analyzes the relation between wages and past and current labor market conditions. Specifically, it explores whether the data is more consistent with implicit contract models (Beaudry/DiNardo, 1991) or a matching model with on-the-job search and...
Persistent link: https://www.econbiz.de/10011544266
present labor market conditions. Furthermore, we revisit recent findings of greater wage cyclicality of new hires. Overall, we … cyclical than those of existing workers. We argue that much of the excess wage cyclicality of new hires discussed by the …
Persistent link: https://www.econbiz.de/10012027613
) and an on-the-job search model (Hagedorn and Manovskii, 2013) for the wage formation of different worker types over the …), we find that previous evidence for the excess wage cyclicality of job changers can be entirely explained by cyclical …-employee matches, we also find no excess wage cyclicality for new hires from unemployment - the key worker type's wage for …
Persistent link: https://www.econbiz.de/10011756338
) and an on-the-job search model (Hagedorn and Manovskii, 2013) for the wage formation of different worker types over the …), we find that previous evidence for the excess wage cyclicality of job changers can be entirely explained by cyclical …-employee matches, we also find no excess wage cyclicality for new hires from unemployment - the key worker type's wage for …
Persistent link: https://www.econbiz.de/10011761053
present labor market conditions. Furthermore, we revisit recent findings of greater wage cyclicality of new hires. Overall, we … cyclical than those of existing workers. We argue that much of the excess wage cyclicality of new hires discussed by the …
Persistent link: https://www.econbiz.de/10012028068
wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired … workers, unlike the aggregate wage, is volatile and responds one-to-one to changes in labor productivity. In order to … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. …
Persistent link: https://www.econbiz.de/10010270767
Recent research in macroeconomics emphasizes the role of wage rigidity in accounting for the volatility of unemployment … aggregate labor market conditions. The wage of new hires, unlike the aggregate wage, is volatile and responds almost one …-to-one to changes in labor productivity. We conclude that there is little evidence for wage stickiness in the data. We also show …
Persistent link: https://www.econbiz.de/10005772474
wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired … workers, unlike the aggregate wage, is volatile and responds one-to-one to changes in labor productivity. In order to … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …
Persistent link: https://www.econbiz.de/10005700599
wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired … workers, unlike the aggregate wage, is volatile and responds one-to-one to changes in labor productivity. In order to … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. …
Persistent link: https://www.econbiz.de/10005233819
Recent research in macroeconomics emphasizes the role of wage rigidity in accounting for the volatility of unemployment … aggregate labor market conditions. The wage of new hires, unlike the aggregate wage, is volatile and responds almost one …-to-one to changes in labor productivity. We conclude that there is little evidence for wage stickiness in the data. We also show …
Persistent link: https://www.econbiz.de/10011084442