Workers' Flows and Real Wage Cyclicality
Pedro Portugal and
Working Papers from Banco de Portugal, Economics and Research Department
This study investigates real wage cyclicality in Portugal for the years of 1986-98, addressing the heterogeneity in wages responses to aggregate labor market conditions for workers' hirings and separations. The results exhibit a moderate procyclical behavior of real wages for continuously employed workers, in particular, for job stayers. For workers' accessions a strongly procyclical behavior in wages was observed, which is consistent with the idea that entry wages are much more procyclical than current wages. This empirical evidence suggests that even micro-data estimates of real wage cyclicality may conceal a strong procyclical wage behavior, when heterogeneity on wages responses to aggregate conditions between employed workers and hirings and separations is not taken into account.
JEL-codes: D21 J30 J31 (search for similar items in EconPapers)
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Working Paper: Workers’ Flows and Real Wage Cyclicality (2007)
Working Paper: Workers' Flows and Real Wage Cyclicality (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:ptu:wpaper:w200409
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