Some Evidence on the Importance of Sticky Wages-Reference-Cited by-同舟云学术

Some Evidence on the Importance of Sticky Wages

Published:2014-01-01 Issue:1 Volume:6 Page:70-101
ISSN:1945-7707
Container-title:American Economic Journal: Macroeconomics
language:en
Short-container-title:American Economic Journal: Macroeconomics

Author:

Barattieri Alessandro¹,Basu Susanto²,Gottschalk Peter²

Affiliation:

1. Department of Economics, ESG UQAM, 315 Rue Sainte Catherine Est, Montreal, QC, H2X 3X2, Canada (e-mail: )

2. Boston College, Department of Economics, 140 Commonwealth Avenue, Chestnut Hill MA 02467 (e-mail: )

Abstract

We present evidence on the frequency of nominal wage adjustment using SIPP data adjusted for measurement error. The SIPP is a representative sample of the US population. Our main results are: (i) The average quarterly probability of a nominal wage change is between 21.1 and 26.6 percent, depending on the assumptions used. (ii) Wage changes are much more likely when workers change jobs. (iii) The frequency of wage adjustment does not display significant seasonal patterns. (iv) The hazard of a nominal wage change first increases and then decreases, with a peak at 12 months. (JEL E24, E32, E52, J31)

Publisher

American Economic Association

Subject

General Economics, Econometrics and Finance

Link

https://pubs.aeaweb.org/doi/pdf/10.1257/mac.6.1.70

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