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Titel
Wage cyclicalities and labor market dynamics at the establishment level : theory and evidence / Christian Merkl (Friedrich-Alexander-Universität Erlangen-Nürnberg, IZA and CESifo), Heiko Stüber (Friedrich-Alexander-Universität Erlangen-Nürnberg and IAB) ; IZA Institute of Labor Economics
VerfasserMerkl, Christian In der Gemeinsamen Normdatei der DNB nachschlagen ; Stüber, Heiko In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, September 2017
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Elektronische Ressource
Umfang1 Online-Ressource (47 Seiten) : Diagramme
SerieDiscussion paper ; no. 11051
URNurn:nbn:de:hbz:5:2-139331 Persistent Identifier (URN)
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Wage cyclicalities and labor market dynamics at the establishment level [0.44 mb]
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Zusammenfassung

Using thenew AWFP dataset that covers all Germanestablishments, we documenta substantial cross-sectional heterogeneity of establishments' average realwages overthe business cycle. While the medianestablishments' real wages are procyclical, there is a large fraction of establishments with countercyclical realwages. We are the first to show that establishmentswith more procyclical wages have a less procyclical hiresrate and employment behavior. We propose alabor market flow model that is able to replicate these factsandthereby allows usto run counterfactual exercises. When we set the wage cyclicalities of all establishments to the one of the most procyclical establishments, labor market volatilities drop bymore than 50 percent.