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The Heterogeneous Cyclicality of Income and Wages Among the Distribution in the UK

Author

Listed:
  • Cervini-Plá María

    (Universitat Pompeu Fabra & EQUALITAS, Barcelona, Spain)

  • López-Villavicencio Antonia

    (GATE and University Lumière Lyon 2, Lyon, France)

  • Silva José I.

    (Universitat de Girona and University of Kent, Campus de Montilivi, 17003Girona, Spain)

Abstract

We investigate the cyclicality of real hourly wages and income using individual data for the UK over the 1991–2013 period. By paying special attention to the heterogeneity among different earnings and income groups, we document that individuals at the top of the distribution are more cyclical than lower ones. We also show that real wages and income are roughly acyclical for low-wage and low-income workers. In particular, we present evidence that the adjustment for low-paid workers takes place through transitions to and from unemployment.

Suggested Citation

  • Cervini-Plá María & López-Villavicencio Antonia & Silva José I., 2018. "The Heterogeneous Cyclicality of Income and Wages Among the Distribution in the UK," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 18(2), pages 1-13, April.
    • Handle: RePEc:bpj:bejeap:v:18:y:2018:i:2:p:13:n:6
    DOI: 10.1515/bejeap-2017-0181
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    Cited by:

    1. Faryna, Oleksandr & Pham, Tho & Talavera, Oleksandr & Tsapin, Andriy, 2020. "Wage Setting and Unemployment: Evidence from Online Job Vacancy Data," GLO Discussion Paper Series 503, Global Labor Organization (GLO).
    2. Caglayan, Mustafa & Talavera, Oleksandr & Xiong, Lin, 2022. "Female small business owners in China: Discouraged, not discriminated," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).

    More about this item

    Keywords

    real wage; cyclicality; income distribution;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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