Replication data for: Measuring What Employers Do about Entry Wages over the Business Cycle: A New Approach
Principal Investigator(s): View help for Principal Investigator(s) Pedro S. Martins; Gary Solon; Jonathan P. Thomas
Version: View help for Version V1
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Project Citation:
Martins, Pedro S., Solon, Gary, and Thomas, Jonathan P. Replication data for: Measuring What Employers Do about Entry Wages over the Business Cycle: A New Approach. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114256V1
Project Description
Summary:
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Rigidity in real hiring wages plays a crucial role in some recent macroeconomic models. But are hiring wages really so noncyclical? We propose using employer/employee longitudinal data to track the cyclical variation in the wages paid to workers newly hired into specific entry jobs. Illustrating the methodology with 1982-2008 data
from the Portuguese census of employers, we find real entry wages
were about 1.8 percent higher when the unemployment rate was 1 percentage point lower. Like most recent evidence on other aspects of wage cyclicality, our results suggest that the cyclical elasticity of wages is similar to that of employment. (JEL E24, E32, J31, J64)
Scope of Project
JEL Classification:
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E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E32 Business Fluctuations; Cycles
J31 Wage Level and Structure; Wage Differentials
J64 Unemployment: Models, Duration, Incidence, and Job Search
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E32 Business Fluctuations; Cycles
J31 Wage Level and Structure; Wage Differentials
J64 Unemployment: Models, Duration, Incidence, and Job Search
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