| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w30322 |
| 来源ID | Working Paper 30322 |
| The Wage Curve After the Great Recession | |
| David G. Blanchflower; Alex Bryson; Jackson Spurling | |
| 发表日期 | 2022-08-08 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Most economists maintain that the labor market in the United States is ‘tight’ because unemployment rates are low. They infer from this that there is potential for wage-push inflation. However, real wages are falling rapidly at present and, prior to that, real wages had been stagnant for some time. We show that unemployment is not key to understanding wage formation in the USA and hasn’t been since the Great Recession. Instead, we show rates of under-employment (the percentage of workers with part-time hours who would prefer more hours) and the rate of non-employment which includes both the unemployed and those out of the labor force who are not working significantly reduce wage pressures in the United States. This finding holds in panel data with state and year fixed effects and is supportive of a wage curve which fits the data much better than a Phillips Curve. We find no role for vacancies; the V:U ratio is negatively not positively associated with wage growth since 2020. The implication is that the reserve army of labor which acts as a brake on wage growth extends beyond the unemployed and operates from within and outside the firm. |
| 主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand ; Labor Compensation ; Unemployment and Immigration |
| URL | https://www.nber.org/papers/w30322 |
| 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/587995 |
| 推荐引用方式 GB/T 7714 | David G. Blanchflower,Alex Bryson,Jackson Spurling. The Wage Curve After the Great Recession. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w30322.pdf（316KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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