全球智库信息集成服务系统(G2TT): New Evidence on Cyclical Variation in Labor Costs in the U.S.

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w24266
来源ID	Working Paper 24266
	New Evidence on Cyclical Variation in Labor Costs in the U.S.
	Grace Weishi Gu; Eswar Prasad
发表日期	2018-02-05
出版年	2018
语种	英语
摘要	Employer-provided nonwage benefit expenditures now account for one-third of U.S. firms' labor costs. We show that a broad measure of real labor costs including such benefit expenditures has become countercyclical during 1982-2014, contrary to the conventional view that labor costs are procyclical. Using BLS establishment-job data, we find that even real wages, the main focus of prior literature, have become countercyclical. Benefit expenditures are less rigid than nominal wages, although both components of labor costs have become more rigid. These rigidities, along with the rising relative importance of aggregate demand shocks (including the financial crisis), help explain countercyclical labor costs.
主题	Macroeconomics ; Consumption and Investment ; Business Cycles ; Labor Economics ; Labor Compensation
URL	https://www.nber.org/papers/w24266
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/581944
推荐引用方式 GB/T 7714	Grace Weishi Gu,Eswar Prasad. New Evidence on Cyclical Variation in Labor Costs in the U.S.. 2018.