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고용주와 근로자의 연계 패널 데이터에 근거한 실질임금의 경기변동성에 대한 새로운 증거: 암묵적 계약이론에 대한 재해석

New Evidence on the Cyclicality of Real Wages within Employer-Employee Matches: Re-Interpretation of Implicit Contract Theory

신동균
한국국제경제학회 (The Korea International Economic Association)|2006.08|국제경제연구 (KUKJE KYUNGJE YONGU)|제12권 제2호|pp. 1-35

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참고문헌

키워드

실질임금경기순행성근속자근속자-고용주 연계 패널암묵적 계약이론경제학 문헌분류기호: E24E32J3Real WagesProcyclicalityJob StayersEmployee-Employer Matched PanelImplicit ContractJEL Classification Number: E24J3攀*College of Economics and FinanceHanyang University攀攀-
주제분류경제학

초록

Abstract

This paper presents new evidence on wage cyclicality of job stayers within employer-employee matches. Unlike Devereux(2001), which is regarded as the most thorough study to date on wage cyclicality among job stayers, we conclude that real wages of job stayers are procyclical even in the matched data. Logical explanations are presented of the differing results between Devereux(2001) and the current study. We also find that substantial wage procyclicality within matches is mostly accounted for by great wage adjustments during the period when the unemployment rate reaches a historical minimum level from the start of the employee's current job. This supports for the theory prediction of implicit contracts that stresses costless mobility.

참고문헌 (32)

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