Arbeitspapier
Wage and Employment Cyclicalities at the Establishment Level
Although the quantitative relationship between employment cyclicality and wage cyclicality is central for the dynamics of macroeconomic models, there is little empirical evidence on this topic. We use the German AWFP dataset to document that wage cyclicalities are very heterogeneous across establishments. Based on this heterogeneity, we estimate the relationship between employment cyclicality and wage cyclicality at the establishment level. We use this micro-estimate as a calibration target for a macro labor market flow model with heterogeneous wage dynamics that nests the standard search and matching model. Based on this micro-macro linkage, we provide a new quantitative benchmark for the role of wage rigidity in search and matching models. Furthermore, we show that acyclical and countercyclical wage establishments are key drivers for stronger labor market reactions in recessions than in booms.
- Sprache
-
Englisch
- Erschienen in
-
Series: GLO Discussion Paper ; No. 1344
- 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)
-
Global Labor Organization (GLO)
- (wo)
-
Essen
- (wann)
-
2023
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 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
- Global Labor Organization (GLO)
Entstanden
- 2023