全球智库信息集成服务系统(G2TT): Wage Adjustment in the Great Recession

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w19478
来源ID	Working Paper 19478
	Wage Adjustment in the Great Recession
	Michael W. Elsby; Donggyun Shin; Gary Solon
发表日期	2013-09-26
出版年	2013
语种	英语
摘要	Using 1979-2011 Current Population Survey data for the United States and 1975-2011 New Earnings Survey data for Great Britain, we study wage behavior in both countries, with particular attention to the Great Recession. Real wages are procyclical in both countries, but the procyclicality of real wages varies across recessions, and does so differently between the two countries. U.S. distributions of year-to-year nominal wage change show many workers reporting zero change (suggesting wage stickiness) and many reporting nominal reductions (suggesting wage flexibility), but both findings could be distorted by reporting error. The British data, which are based on employers' payroll records, show much lower prevalence of zero wage change, but still show surprisingly frequent nominal wage cuts. The complex constellation of empirical regularities defies explanation by simple theories.
主题	Macroeconomics ; Consumption and Investment ; Business Cycles ; Labor Economics ; Labor Compensation ; Unemployment and Immigration
URL	https://www.nber.org/papers/w19478
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/577152
推荐引用方式 GB/T 7714	Michael W. Elsby,Donggyun Shin,Gary Solon. Wage Adjustment in the Great Recession. 2013.