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Author: Hagedorn, Marcus
Resulting in 1 citation.
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Hagedorn, Marcus Manovskii, Iourii |
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Job Selection and Wages over the Business Cycle American Economic Review 103,2 (April 2013): 771-803. Also: https://www.aeaweb.org/articles?id=10.1257/aer.103.2.771 Cohort(s): NLSY79 Publisher: American Economic Association Keyword(s): Economic Changes/Recession; Job Tenure; Unemployment; Wages Permission to reprint the abstract has not been received from the publisher. We consider a model with on-the-job search where current wages depend only on current aggregate labor market conditions and idiosyncratic match-specific productivities. We show theoretically that the model replicates the findings in Bils (1985) and Beaudry and DiNardo (1991) on the history dependence in wages. We develop a method to measure match qualities in the data and show empirically that various variables summarizing past aggregate labor market conditions have explanatory power for current wages only because they are correlated with match qualities. They lose any predictive power once match qualities are accounted for. |
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Bibliography Citation
Hagedorn, Marcus and Iourii Manovskii. "Job Selection and Wages over the Business Cycle." American Economic Review 103,2 (April 2013): 771-803.
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