Long-term wage fluctuations with industry-specific human capital

• 成果类型: Article
• 署名作者: Weinberg, BA
• 署名单位: University System of Ohio; Ohio State University
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/209985
• 发表日期: 2001
• 页码: 231-264
• 关键词: implicit contracts; displaced workers; job seniority; MARKET; demand; unemployment; consumption; uncertainty; EMPLOYMENT; computers

摘要

Exploiting long term interindustry demand shifts, this article provides evidence that (1) industry-level wages do not respond to industry demand conditions; (2) at the industry level, the employment of young workers responds more to demand shifts than does the employment of experienced workers; and (3) the postdisplacement wages of displaced workers are strongly affected by demand in their predisplacement industries. These findings are consistent with a model in which worker's investments in industry-specific skills pose a barrier to interindustry labor mobility and wages do not respond to spot labor market conditions.