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Author: Bils, Mark J.
Resulting in 3 citations.
| 1. |
Bils, Mark J. |
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Real Wages over the Business Cycle: Evidence from Panel Data Journal of Political Economy 93,4 (August 1985): 666-689. Also: http://www.jstor.org/stable/1832132 Cohort(s): Young Men Publisher: University of Chicago Press Keyword(s): Behavior; Business Cycles; Unemployment Rate; Wages The cyclical behavior of real wages has been the subject of numerous studies, most of which used aggregated time-series data. In contrast, the present analysis employs disaggregated, panel data from a pooled sample of the Young Men. Using these data, a pooled time-series, cross-sectional model is estimated in which changes in real wages are related to changes in the national unemployment rate. Analysis reveals real wages to be very procyclical. A percentage point decline in the unemployment rate is associated with a rise in real wages of 1.5%- 2%. Averaging over a cyclically changing labor force is found to countercyclically bias the real wage, although the effect is not large. Disaggregation also shows that real wages behave very differently across individuals. |
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Bibliography Citation
Bils, Mark J. "Real Wages over the Business Cycle: Evidence from Panel Data." Journal of Political Economy 93,4 (August 1985): 666-689.
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| 2. |
Bils, Mark J. Kudlyak, Marianna Lins, Paulo |
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The Quality-Adjusted Cyclical Price of Labor Journal of Labor Economics 41:S1 (1 October 2023) S13-S59. Also: https://www.journals.uchicago.edu/doi/10.1086/726701 Cohort(s): NLSY79, NLSY97 Publisher: University of Chicago Press Keyword(s): Job Separation/Loss; Labor Economics; Labor User Cost; Unemployment; Wage Levels; Wages; Wages, Starting We estimate cyclicality in labor's user cost allowing for cyclical fluctuations in the quality of worker-firm matches and wages that are smoothed within employment matches. To do so, we exploit a match's long-run wage to control for its quality. Using 1980-2019 National Longitudinal Survey of Youth data, we identify three channels by which recessions affect user cost: they lower the new-hire wage and wages going forward in the match, but they also result in higher subsequent separations. We find that labor's user cost is highly procyclical, increasing by more than 4% for a 1 percentage point decline in unemployment. |
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Bibliography Citation
Bils, Mark J., Marianna Kudlyak and Paulo Lins. "The Quality-Adjusted Cyclical Price of Labor." Journal of Labor Economics 41:S1 (1 October 2023) S13-S59.
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| 3. |
Hills, Stephen M. Becker, Brian E. Bils, Mark J. D'Amico, Ronald |
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Career Thresholds, Volume 7: Ten Years of Labor Market Experience for Young Men Report, Columbus OH: Center for Human Resource Research, The Ohio State University, 1980 Cohort(s): Young Men Publisher: Center for Human Resource Research Keyword(s): Earnings, Husbands; Earnings, Wives; Family Income; Firm Size; Mobility; Training, Occupational; Transition, School to Work Nine chapters outline the following information: 1. Historical and demographic changes affecting the work lives of the 3,644 young men who were age 14-24 when first interviewed in 1966 and who remained in the sample ten years later. 2. The declining labor market opportunities of those who graduated from college with variations by degree and field of study. 3. The impact of investment in college quality for the young men, focusing on later earnings and graduate school attendance and whether the quality of the institution makes a difference in the labor market position. 4. The intensity and subsequent effectiveness of occupational training and whether the return to training compares favorably with other investment activities. 5. Labor marke |
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Bibliography Citation
Hills, Stephen M., Brian E. Becker, Mark J. Bils and Ronald D'Amico. Career Thresholds, Volume 7: Ten Years of Labor Market Experience for Young Men. Report, Columbus OH: Center for Human Resource Research, The Ohio State University, 1980. |