THE CYCLE OF EARNINGS INEQUALITY: EVIDENCE FROM SPANISH SOCIAL SECURITY DATA

• 成果类型: Article
• 署名作者: Bonhomme, Stephane; Hospido, Laura
• 署名单位: Banco de Espana; University of Chicago; IZA Institute Labor Economics
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12368
• 发表日期: 2017
• 页码: 1244-1278
• 关键词: wage inequality; changing distribution; UNITED-STATES; spain; EMPLOYMENT; transitions; temporary; MARKET; income; rise

摘要

We use detailed information from social security records to document the evolution of male earnings inequality and employment in Spain from 1988 to 2010. We find that inequality was strongly countercyclical: it increased around the 1993 recession, experienced a substantial decrease during the 1997-2007 expansion and then a sharp increase during the recent recession. This evolution went in parallel with the cyclicality of employment in the lower middle part of the wage distribution. Our findings highlight the importance of the housing boom and bust in this evolution, suggesting that demand shocks in the construction sector had large effects on aggregate labour market outcomes.