Devereux, Paul J.(Cornell University, School of Industrial & Labor Relations, 2001-07)
Using data from the Panel Study of Income Dynamics, the author examines the cyclicality of wages within employer-employee matches for the years 1970-91. Recent research on wage cyclicality has suggested that wages are very ...
Various reasons have been put forward to explain the stylized fact that the wages of job starters are more procyclical than the wages of workers who don’t change jobs. I explore the theoretical and empirical basis for one ...
Extreme price movements associated with market crashes and booms have catastrophic repercussions for all investors and it is necessary to make accurate predictions of the frequency and severity of these events. This paper ...
In this paper, we compile a unique historical dataset that records strike activity in the British engineering industry from 1920 to 1970. These data have the advantage of containing a fairly
homogenous set of companies ...
We develop a theoretical model of the dynamics of an industry over the business cycle. In the economy, both aggregate demand and the productivity of a firm's technology evolve stochastically. Each period, firms must choose ...
We study the dynamics of an industry subject to aggregate demand shocks where the productivity of a firm’s technology evolves stochastically over time. Each period, each firm, given the aggregate demand shock, the productivity ...
We study the dynamics of an industry subject to aggregate demand shocks where the productivity of a firm’s technology evolves stochastically over time. To characterize the intertemporal evolution
of the distribution of ...
Whelan, Karl(2004 Copyright Central Bank of Ireland, 2004-10)
The one-sector Solow-Ramsey growth model informs how most modern researchers characterize macroeconomic trends and cycles, and evidence supporting the model's
balanced growth predictions is often cited. This paper shows, ...
Many economics theories suggest that the assignment of workers to occupations changes over the business cycle: expansions allow workers to upgrade to occupations that pay higher wages and require more skill. This paper ...
Using the British New Earnings Survey Panel Data for 1975-2001, the authors estimate the wage cyclicality (the degree to which wage levels rise and fall with economic upturns and downturns) of three groups: job stayers, ...
Using the British New Earnings Survey Panel Data (NESPD) for the period 1975 to 2001 we
estimate the wage cyclicality of job stayers (those remaining within single jobs in a given company), within company job movers, and ...
In this article, I evaluate the hypothesis that firms respond to negative demand shocks by assigning workers to tasks that require less skill than the tasks they normally carry out. Using changes in employment in state-industry ...