Fixed and Flexible Wages
Evidence from Panel Data
Bibliographic Data
| ID | 3700779 |
|---|---|
| Authors | Wendy L Rayack (corresponding author) |
| Year | 1991 |
| Volume | 44 |
| Issue | 2 |
| Pages | 288 |
| Publication date | 1991-01-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Industrial and Labor Relations Review (JOURNAL) |
| Journal identifiers | ISSN: 0019-7939 • E-ISSN: 2162-271X |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2524809 |
| OpenAlex | W4250413318, W2011487316 |
| Language | EN |
| Citations received | 1 |
| References cited | 7 |
Using data for the years 1968-84 from the Michigan Panel Study of Income Dynamics, this study analyzes differential flexibility in nominal wages by tenure and occupation. The results show that short-run sensitivity to both unemployment and inflation is confined largely to low-tenure workers and that the cyclical upgrading and downgrading of employment opportunities makes a significant contribution to flexibility in nominal wages. The findings are consistent with a model in which long-term commitments insulate the wages of senior workers from short-run swings in economic conditions and in which nominal wages are largely noncyclical but employment opportunities shrink and expand
Differential (mechanical device) · Econometrics · Economics · Flexibility (engineering) · Inflation (cosmology) · Labour economics · Macroeconomics · Panel data · Panel Study of Income Dynamics · Real wages · Short run · Unemployment · Wage · Employment and Welfare Studies · Engineering · Housing, Finance, and Neoliberalism · Labor market dynamics and wage inequality
| Citations per year | 0.07 |
|---|---|
| Citation span | 1997 - 1997 (1) |
| Highly cited | No |