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Spatial Dynamics And Heterogeneity In The Cyclicality Of Real Wages

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Author Info
James P. Ziliak
Beth A. Wilson
Joe A. Stone

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Abstract

Neither the issue of how local and aggregate labor markets interact over time-nor the issue of how heterogeneity by education, race, and other factors interacts with these spatial dynamics-has previously been explored in the literature on the cyclicality of real wages. This study investigates how real wages respond to local and aggregate unemployment rates over time, and explores possible heterogeneities in the responses. Results, based upon data from the Panel Study of Income Dynamics, indicate that real wages move procyclically with both aggregate and local markets, but that the response to local changes occurs with a lag; that rates of return to education are procyclical overall for aggregate labor markets, but tend to be countercyclical for blacks; and that wages of union, manufacturing, blue-collar, and black workers tend to be less procyclical, even countercyclical for black college graduates. Overall, we find substantial spatial dynamics and heterogeneity in the cyclicality of real wages. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technolog

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Publisher Info
Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 81 (1999)
Issue (Month): 2 (May)
Pages: 227-236
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Handle: RePEc:tpr:restat:v:81:y:1999:i:2:p:227-236

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  1. Anabela Carneiro & Pedro Portugal, 2007. "Workers’ Flows and Real Wage Cyclicality," IZA Discussion Papers 2604, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  2. Lindquist, Matthew J., 2002. "Capital-Skill Complementarity and Inequality Over the Business Cycle," Research Papers in Economics 2002:14, Stockholm University, Department of Economics, revised 01 Sep 2003.
    Other versions:
  3. James P. Ziliak & David N. Figlio, 2000. "Geographic Differences in AFDC and Food Stamp Caseloads in the Welfare Reform Era," JCPR Working Papers 180, Northwestern University/University of Chicago Joint Center for Poverty Research.
  4. Carlén, Björn, 2002. "Exclusionary Manipulation of Carbon Permit Markets: A Laboratory Test," Research Papers in Economics 2002:15, Stockholm University, Department of Economics. [Downloadable!]
  5. Otrok, Christopher & Pourpourides, Panayiotis M., 2008. "On The Cyclicality of Real Wages and Wage Differentials," Cardiff Economics Working Papers E2008/19, Cardiff University, Cardiff Business School, Economics Section, revised Mar 2009. [Downloadable!]
  6. Abigail Wozniak, 2006. "Educational Differences in the Migration Responses of Young Workers to Local Labor Market Conditions," IZA Discussion Papers 1954, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Théophile AZOMAHOU, 1999. "Estimation of Spatial Panel Data Models Using a Minimum Distance Estimator: Application," Working Papers of BETA 9912, Bureau d'Economie Théorique et Appliquée, ULP, Strasbourg. [Downloadable!]
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