The Relative Power of Employment-to-Employment Reallocation and Unemployment Exits in Predicting Wage Growth
| Autor: | Giuseppe Moscarini, Fabien Postel-Vinay |
|---|---|
| Rok vydání: | 2017 |
| Předmět: |
Economics and Econometrics
Labour economics Earnings media_common.quotation_subject 05 social sciences Labor demand Wage Microdata (statistics) 0502 economics and business Unemployment Economics 050207 economics Survey of Income and Program Participation Wage growth Phillips curve 050205 econometrics media_common |
| Zdroj: | American Economic Review. 107:364-368 |
| ISSN: | 0002-8282 |
| DOI: | 10.1257/aer.p20171078 |
| Popis: | We study the cyclical comovement nominal wage growth (either monthly earnings or hourly wage rate) and labor market flows. We use microdata from the Survey of Income and Program Participation over 1996-2013 to purge composition effects in worker and job characteristics and to isolate the reallocative effect of Employer-to-Employer (EE) transitions. We find an “EE wage Phillips curve”: wage inflation comoves positively with EE as strongly as with the employment rate. This correlation holds for job stayers; we interpret the EE rate as a measure of labor demand. We find no analogous evidence for the job-finding rate from unemployment. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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