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dc.contributor.authorBuch, Claudia M.en_US
dc.contributor.authorPierdzioch, Christianen_US
dc.date.accessioned2009-06-30en_US
dc.date.accessioned2010-05-14T08:20:38Z-
dc.date.available2010-05-14T08:20:38Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/30527-
dc.description.abstractGlobalization may impose a double-burden on low-skilled workers. On the one hand, the relative supply of low-skilled labor increases. This suppresses wages of low-skilled workers and/or increases their unemployment rates. On the other hand, low-skilled workers typically face more limited access to financial markets than high-skilled workers. This limits their ability to smooth shocks to income intertemporally and to share risks across borders. Using cross-country, industry-level data for the years 1970 - 2004, we document how the volatility of hours worked and of wages of workers at different skill levels has changed over time. We develop a stylized theoretical model that is consistent with the empirical evidence, and we test the predictions of the model. Our results show that greater financial globalization and development increases the volatility of employment, and this effect is strongest for low-skilled workers. A higher share of low-skilled employment has a dampening impact.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2665en_US
dc.subject.jelF41en_US
dc.subject.ddc330en_US
dc.subject.keywordlabor-market volatilityen_US
dc.subject.keywordskill levelsen_US
dc.subject.keywordfinancial globalizationen_US
dc.subject.stwUngelernte Arbeitskräfteen_US
dc.subject.stwUngeschützte Beschäftigungen_US
dc.subject.stwArbeitsmarkten_US
dc.subject.stwArbeitszeiten_US
dc.subject.stwLohnen_US
dc.subject.stwVolatilitäten_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwGlobalisierungen_US
dc.subject.stwTheorieen_US
dc.subject.stwSchätzungen_US
dc.subject.stwOECD-Staatenen_US
dc.titleLow skill but high volatility?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn603357369en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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