Arbeitspapier
Wage and Employment Cyclicalities at the Establishment Level
We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business cycle. While wages of the median establishment are moderately procyclical, 36 percent of establishments have countercyclical wages. We estimate a negative connection between establishments' wage cyclicality and their employment cyclicality, thereby providing a benchmark for quantitative macroeconomic models. We propose and calibrate a labor market flow model to match various empirical facts and to perform counterfactual exercises. If all establishments behaved as the most procyclical ones, labor market amplification would drop by one-third. If all followed Nash bargaining, it would drop by more than two-thirds.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 9283
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Unemployment: Models, Duration, Incidence, and Job Search
- Thema
-
wage cyclicality
employment cyclicality
labor market flow model
labor market dynamics
establishments
administrative data
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Merkl, Christian
Stüber, Heiko
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Merkl, Christian
- Stüber, Heiko
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2021