Franklin

IMF Staff papers [electronic resource] : Volume 40 No. 4.

Author/Creator:
International Monetary Fund. Research Dept.
Publication:
Washington, D.C. : International Monetary Fund, 1993.
Series:
IMF eLibrary
IMF Staff Papers
Format/Description:
Government document
Book
1 online resource (196 p.)
Local subjects:
Aggregate unemployment. (search)
Aggregate unemployment rate. (search)
Average employment. (search)
Benefits. (search)
Civilian unemployment. (search)
Compensation. (search)
Cyclical unemployment. (search)
Effect on employment. (search)
Employment. (search)
Employment effect. (search)
Employment equation. (search)
Employment equations. (search)
Employment patterns. (search)
Employment probabilities. (search)
Employment probability. (search)
Employment stability. (search)
Employment status. (search)
Fringe benefits. (search)
Incidence of unemployment. (search)
Job training. (search)
Keynesian unemployment. (search)
Labor force participation. (search)
Nonwage compensation. (search)
Salaries. (search)
Skilled labor. (search)
Stable employment. (search)
Total labor force. (search)
Underemployment. (search)
Unemployed. (search)
Unemployment. (search)
Unemployment rate. (search)
Wage. (search)
Wage equation. (search)
Wage equations. (search)
Wage rate. (search)
Wage rates. (search)
Wages. (search)
Worker. (search)
Summary:
This paper uses microeconomic panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, it finds that, at the aggregate level, skilled and unskilled workers are subject to the same degree of cyclical variation in wages. However, the quality of labor input is found to rise in recessions, inducing a countercyclical bias in aggregate measures of the real wage. The paper also finds substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, indicating important interindustry differences in labor contracting.
Notes:
Description based on print version record.
Contributor:
International Monetary Fund. Research Dept.
Other format:
Print Version:
ISBN:
1451930852:
9781451930856
ISSN:
1020-7635
Publisher Number:
10.5089/9781451930856.024
Access Restriction:
Restricted for use by site license.
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