In this paper I present an empirical analysis of the dynamics of individual earnings using Spanish quarterly earnings. I propose a new econometric methodology to control for the seasonality in my dataset. Moreover, I apply this methodology to the study of earnings mobility in Spain, using transition probabilities among earnings quintiles for the period 1985-1996. I find substantial mobility from one year to the next. However, earnings changes are basically among adjacent quintiles. Workers with university education are more mobile than workers with primary and secondary education. On the other hand, I observe greater negative mobility among earnings quintiles and more persistence of low earnings situations over the nineties, and especially for workers with primary education.Keywords: lender of last resort, bank supervision, central banking, deposit insurance, incomplete contracts.
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Paper provided by Centro de Estudios Monetarios Y Financieros- in its series Papers with number
9914.
Length: 52 pages Date of creation: 1999 Date of revision: Handle: RePEc:fth:cemfdt:9914
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Find related papers by JEL classification: C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials D30 - Microeconomics - - Distribution - - - General