Understanding U.S. Wage Dynamics

2018 ◽  
Author(s):  
Yasser Abdih ◽  
Stephan Danninger
Keyword(s):  
Wage Dynamics

Money-Wage Dynamics and Labor-Market Equilibrium

1968 ◽  
Vol 76 (4, Part 2) ◽  
pp. 678-711 ◽  
Author(s):  
Edmund S. Phelps
Keyword(s):  
Labor Market ◽  
Market Equilibrium ◽  
Wage Dynamics ◽  
Money Wage

scholarly journals Wage Dynamics Along the Life-Cycle of Manufacturing Plants

2011 ◽  
Author(s):  
Emin Dinlersoz ◽  
Henry R. Hyatt ◽  
Sang V. Nguyen
Keyword(s):  
Life Cycle ◽  
Wage Dynamics ◽  
Manufacturing Plants

scholarly journals Worker Flows and Wage Dynamics: Estimating Wage Growth Without Composition Effects

2020 ◽  
Author(s):  
Raquel Carrasco Perea ◽  
José Ignacio García Pérez ◽  
Juan F. Jimeno
Keyword(s):  
Wage Growth ◽  
Wage Dynamics ◽  
Composition Effects ◽  
Worker Flows

scholarly journals The Aggregate Implications of Regional Business Cycles

Econometrica ◽  
2019 ◽  
Vol 87 (6) ◽  
pp. 1789-1833 ◽  
Author(s):  
Martin Beraja ◽  
Erik Hurst ◽  
Juan Ospina
Keyword(s):  
Business Cycles ◽  
Great Recession ◽  
Aggregate Demand ◽  
Strong Relationship ◽  
Aggregate Data ◽  
New Keynesian ◽  
Aggregate Fluctuations ◽  
Wage Dynamics ◽  
The Great Recession ◽  
Wage Stickiness

Making inferences about aggregate business cycles from regional variation alone is difficult because of economic channels and shocks that differ between regional and aggregate economies. However, we argue that regional business cycles contain valuable information that can help discipline models of aggregate fluctuations. We begin by documenting a strong relationship across U.S. states between local employment and wage growth during the Great Recession. This relationship is much weaker in U.S. aggregates. Then, we present a methodology that combines such regional and aggregate data in order to estimate a medium‐scale New Keynesian DSGE model. We find that aggregate demand shocks were important drivers of aggregate employment during the Great Recession, but the wage stickiness necessary for them to account for the slow employment recovery and the modest fall in aggregate wages is inconsistent with the flexibility of wages we observe across U.S. states. Finally, we show that our methodology yields different conclusions about the causes of aggregate employment and wage dynamics between 2007 and 2014 than either estimating our model with aggregate data alone or performing back‐of‐the‐envelope calculations that directly extrapolate from well‐identified regional elasticities.

Labour quality and aggregate real-wage dynamics

1994 ◽  
Vol 26 (9) ◽  
pp. 865-875 ◽  
Author(s):  
Kenneth Clark ◽  
Derek Leslie
Keyword(s):  
Real Wage ◽  
Wage Dynamics

scholarly journals Employment and wage dynamics in Estonia, 1989-95

1998 ◽  
Vol 6 (2) ◽  
pp. 481-503 ◽  
Author(s):  
Rivo Noorkôiv ◽  
Peter F. Orazem ◽  
Allan Puur ◽  
Milan Vodopivec
Keyword(s):  
Wage Dynamics
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