What Falls During a Recession - The Three Margins of Employment Insurance
Firms possess control over key determinants of workers’ earnings: wages, hours worked, and employment stability. As workers would …
Pablo Mileni Munari
Heterogeneous Wage Cyclicality and Unemployment Fluctuations
Estimate wage cyclicality across jobs with different hiring pools. Firms hiring unemployed workers have the most rigid wages, which helps amplify unemployment volatility.