Real wage cyclicality of newly hired workers

Stüber, Heiko

Real wage cyclicality of newly hired workers

dc.contributor.author	Stüber, Heiko	de
dc.date.accessioned	2024-04-08T08:47:53Z
dc.date.available	2024-04-08T08:47:53Z
dc.date.created	2013-01-29
dc.date.issued	2013
dc.description.abstract	Several recent marcoeconomic models rely on rigid wages. Especially wage rigidity of newly hired workers seems to play a crucial role, since the decision of opening a vacancy or not is mainly influenced by their real wages. However, so far little empirical evidence exists on how real wages of newly hired workers react to business cycle conditions. This paper aims at filling this gap for a large economy, namely Germany, by analyzing the cyclical behavior or real wages of newly hired workers while controlling for "cyclical up- and downgrading" in employer/employee matches. For the analysis two endogenous variables are used: either the "typical" (e.g. modal) real wages paid to entrants into particular jobs of particular firms or entrants' individual real wages. The results show that entry-wages are not rigid, but considerably respond to business cycle conditions. This finding strengthens Pissarides' (2009) dismissal of theories based on cyclically rigid hiring wages. Furthermore, I show that the procyclicality of the employment / population ratio is (nearly) identical to the procyclicality of real entry-wages.	en
dc.identifier.swb	378065270
dc.identifier.uri	https://hohpublica.uni-hohenheim.de/handle/123456789/5662
dc.identifier.urn	urn:nbn:de:bsz:100-opus-8025
dc.language.iso	eng
dc.relation.ispartofseries	FZID discussion papers; 62
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	Real wage cyclicality	en
dc.subject	Entry-wages	en
dc.subject	Search and matching model	en
dc.subject.ddc	330
dc.subject.gnd	Reallohn	de
dc.subject.gnd	Lohntheorie	de
dc.title	Real wage cyclicality of newly hired workers	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.faculty.number	3	de
local.faculty.number	7	de
local.institute.number	520	de
local.institute.number	795	de
local.opus.number	802
local.series.issueNumber	62
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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