Replication data for: Labor Contracts, Equal Treatment, and Wage-Unemployment Dynamics
Principal Investigator(s): View help for Principal Investigator(s) Andy Snell; Jonathan P. Thomas
Version: View help for Version V1
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AEJMac2008-0021_data | 10/12/2019 08:58:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 04:58:PM |
Project Citation:
Snell, Andy, and Thomas, Jonathan P. Replication data for: Labor Contracts, Equal Treatment, and Wage-Unemployment Dynamics. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114181V1
Project Description
Summary:
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This paper analyses a model in which firms cannot pay discriminate based on year of entry. It is assumed that workers can costlessly quit at any time, while firms are committed to contracts. We solve for the dynamics of wages and unemployment, and show that real wages display a degree of downward rigidity and do not necessarily clear the labor market. Using sectoral productivity data from the post-war US economy, we assess the ability of the model to match the actual unemployment series. We also show that equal treatment follows from the assumption of at-will employment contracting in
our model. (JEL E24, E32, J31, J41)
Scope of Project
JEL Classification:
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E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E32 Business Fluctuations; Cycles
J31 Wage Level and Structure; Wage Differentials
J41 Labor Contracts
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E32 Business Fluctuations; Cycles
J31 Wage Level and Structure; Wage Differentials
J41 Labor Contracts
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