Cyclicality of real wages in the USA and Germany : new insights from wavelet Analysis

Gómez, Víctor; Marczak, Martyna

Cyclicality of real wages in the USA and Germany : new insights from wavelet Analysis

dc.contributor.author	Gómez, Víctor	de
dc.contributor.author	Marczak, Martyna	de
dc.date.accessioned	2024-04-08T08:47:00Z
dc.date.available	2024-04-08T08:47:00Z
dc.date.created	2012-06-19
dc.date.issued	2012
dc.description.abstract	This article provides new insights into the cyclical behavior of consumer and producer real wages in the USA and Germany. We apply two methods for the estimation of the cyclical components from the data: the approach based on the structural time series models and the ARIMA?model?based approach combined with the canonical decomposition and a band?pass filter. We examine the extracted cycles drawing on two wavelet concepts: wavelet coherence and wavelet phase angle. In contrast to the analysis in the time or frequency domains, wavelet analysis allows for the identification of possible changes in cyclical patterns over time. From the findings of our study, we can infer that the USA and Germany differ with respect to the lead?lag relationship of real wages and the business cycle. In the USA, both real wages are leading the business cycle in the entire time interval. The German consumer real wage is, on the other hand, lagging the business cycle. For the German producer real wage, the lead?lag pattern changes over time. We also find that real wages in the USA as well in Germany are procyclical or acyclical until 1980 and countercyclical thereafter.	en
dc.identifier.swb	367616084
dc.identifier.uri	https://hohpublica.uni-hohenheim.de/handle/123456789/5596
dc.identifier.urn	urn:nbn:de:bsz:100-opus-7267
dc.language.iso	eng
dc.relation.ispartofseries	FZID discussion papers; 50
dc.rights.license	publ-ohne-pod	en
dc.rights.license	publ-ohne-pod	de
dc.rights.uri	http://opus.uni-hohenheim.de/doku/lic_ubh.php
dc.subject.ddc	330
dc.subject.gnd	Reallohn	de
dc.subject.gnd	Konjunkturzyklus	de
dc.title	Cyclicality of real wages in the USA and Germany : new insights from wavelet Analysis	de
dc.type.dcmi	Text	de
dc.type.dini	WorkingPaper	de
local.access	uneingeschränkter Zugriff	en
local.access	uneingeschränkter Zugriff	de
local.bibliographicCitation.publisherPlace	Universität Hohenheim	de
local.export.bibtex	@techreport{Gómez2012, url = {https://hohpublica.uni-hohenheim.de/handle/123456789/5596}, author = {Gómez, Víctor and Marczak, Martyna}, title = {Cyclicality of real wages in the USA and Germany : new insights from wavelet Analysis}, year = {2012}, school = {Universität Hohenheim}, series = {FZID discussion papers}, }
local.export.bibtexAuthor	Gómez, Víctor and Marczak, Martyna
local.export.bibtexKey	Gómez2012
local.export.bibtexType	@techreport
local.faculty.number	3	de
local.faculty.number	7	de
local.institute.number	520	de
local.institute.number	795	de
local.opus.number	726
local.series.issueNumber	50
local.series.title	FZID discussion papers
local.university	Universität Hohenheim	de
local.university.faculty	Faculty of Business, Economics and Social Sciences	en
local.university.faculty	Fakultät Wirtschafts- und Sozialwissenschaften	de
local.university.faculty	Landesanstalten	de
local.university.institute	Institute for Economics	en
local.university.institute	Institut für Volkswirtschaftslehre	de
local.university.institute	Forschungszentrum Innovation und Dienstleistung	de

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