Wages, Implicit Contracts and the Business Cycle: Evidence from Canadian Micro Data
AbstractEvidence of macroeconomic conditions impacting the earnings of men in Canada in a manner consistent with an implicit contracting framework is found using data from eleven cross-sectional surveys spanning the years 1981-1992. The estimates are similar to those found by Beaudry and DiNardo (1991) using U.S. data. Their analysis is extended to incestigate whether the effects of macroeconomic conditions differ by age. Evidence is found that the wages of young men and men near retirement are most sensitive to changes in the macroeconomic conditions over their job tenure.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 588.
Length: 14 pages
Date of creation: 1997
Date of revision:
Contact details of provider:
Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
Fax: +61 3 8344 6899
Web page: http://www.economics.unimelb.edu.au
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WAGES ; BUSINESS CYCLES;
Other versions of this item:
- James Ted McDonald & Christopher Worswick, 1999. "Wages, Implicit Contracts, and the Business Cycle: Evidence from Canadian Micro Data," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 884-913, August.
- J19 - Labor and Demographic Economics - - Demographic Economics - - - Other
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
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