WebbThis study investigates real wage cyclicality in Portugal for the years of 1986-98, addressing the heterogeneity in wages responses to aggregate labor market conditions … Webb27 maj 2003 · Abstract. This paper explains how real wages are procyclical for those who stay with the same employer. On the basis of the Panel Study of Income Dynamics data for the period of 1974-75 to 1990-91, we find that the substantial wage procyclicality among job stayers is mostly accounted for by great wage adjustments during the period when …
The Cyclical Behavior of Equilibrium Unemployment, Vacancies, …
Webbprocyclical pattern of real wages. This article offers a resolution of this problem by introduc- ing productivity factors into the determination of sticky wages. This resolution … Webb2 BIS Papers No 1 mitigated by increased recognition of the build up of risk in economic booms and the recognition that the materialisation of bad loans in recessions need not imply an increase in risk.4 These measurement biases, which we argue go hand in hand with economic agents being better at measuring relative than absolute risk, can arise … green and black hamper
Measuring the Cyclicality of Real Wages: How Important is …
WebbMany early sticky-wage theories had difficulty with a procyclical real wage. Prices are procyclical, so if P moves up in a boom, then with fixed W we will find W/P move down -- a countercyclical real wage. This is an annoying problem in old Keynesian models that can, depending on the details, also show up in Lucas-type New Classical models. WebbDownloadable (with restrictions)! Evidence on wage cyclicality shows job changers have more procyclical wages than job stayers. Previous work argued this arises because workers gain greater access to jobs in sectors such as manufacturing that offer high wages. This article argues that workers who switch jobs in booms enter temporary jobs … Webb1 jan. 1990 · Procyclical wage behavior may be observed even if wages are truly countercyclical [9, 15, 6]. To avoid aggregation bias, Michael Keane, Robert Moffitt, and … flower paddle shape for paper