Search Results
Journal Article
Live long and prosper: challenges ahead for an aging population
Over the next thirty years, the percentage of people who are 65 and over will grow rapidly while the percentage of people in their working years will decline. This shift in the age distribution of the population will put enormous pressure on social security systems in the United States, Germany, and Japan as the number of workers whose payroll taxes fund each retiree drops sharply.
Report
American employer salary surveys and labor economics research: issues and contributions
This paper reviews the uses of U.S. employer salary surveys for labor market research. Recent computational, theoretical, and econometric advances render these surveys ripe for exploitation. It summarize theories of employer wage effects and then describe salary surveys and their preparation for analysis. Then, the surveys and the methodological issues they raise are contrasted with household data. Finally, the paper summarizes the techniques used and contributions made in some salary survey-based studies.
Working Paper
HRM policy and increasing inequality in a salary survey
A look at the implications for human resource management of the rising wage disparity found in a three-decades-long private salary survey conducted by the Federal Reserve Bank of Cleveland.
Journal Article
Do the earnings of manufacturing and service workers grow at the same rate over their careers?
A study indicating that service workers begin employment at a lower wage than comparable manufacturing workers, and then experience similar wage growth.
Journal Article
Economic restructuring in New York State
When economic activity slows down, labor markets may undergo extensive structural change-the permanent reallocation of workers across industries. Job losses can be heavy, and creating new jobs and retraining displaced workers to fill them can take time. A high degree of restructuring may help to explain why New York State's most recent downturn persisted for well over two years. Subseries: Second District Highlights.
Journal Article
White-and-blue-collar jobs in the recent recession and recovery: who's singing the blues?
An investigation of the 1990-91 recession's impact on blue- versus white-collar workers, showing that although blue-collar workers bore the brunt of the downturn, white-collar employment growth was unusually slow by historical standards.
Conference Paper
The interaction of labor markets and inflation: analysis of micro data from the International Wage Flexibility Project
Inflation can ?grease? the wheels of economic adjustment in the labor market by relieving the constraint imposed by downward nominal wage rigidity, but not if there is also substantial downward real wage rigidity. At the same time, inflation can throw ?sand? in the wheels of economic adjustment by degrading the value of price signals. A number of recent studies suggest that wage rigidity is much more important for business cycles and monetary policy than previously believed (see Erceg, Henderson and Levin, 2000, Smets and Wouters, 2003, and Hall, 2005). Thus, our results on how wage rigidity ...
Working Paper
The effects of inflation on wage adjustments in firm-level data: grease or sand?
An analysis of whether inflation facilitates adjustments to shocks or distorts relative prices, examining the wage-setting process across a panel of occupations and employers and finding that the costs of inflation may rise more rapidly than its benefits beyond quite modest rates of increase in the price level.
Report
Identifying inflation's grease and sand effects in the labor market
Inflation has been accused of causing distortionary prices and wage fluctuations (sand) as well as lauded for facilitating adjustments to shocks when wages are rigid downwards (grease). This paper investigates whether these two effects can be distinguished from each other in a labor market by the following identification strategy: inflation-induced deviations among employer's mean wage-changes represent unintended intramarket distortions (sand), while inflation-induced, inter-occupational wage-changes reflect intended alignments with intermarket forces (grease). Using a unique 40-year panel ...
Working Paper
Sources of wage dispersion: the contribution of interemployer differentials within industry
An analysis of variance in individual production workers' wages within and between establishments, using BLS Industry Wage Surveys to examine establishment-based wage differentials.