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http://hdl.handle.net/10419/60579
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| Title: | | Exchange rates and wages  |
| Authors: | | Goldberg, Linda Tracy, Joseph |
| Issue Date: | | 2001 |
| Series/Report no.: | | Staff Report, Federal Reserve Bank of New York 116 |
| Abstract: | | Understanding the effects of exchange rate fluctuations across the population is important for increasingly globalized economies. Previous studies using industry aggregate data have found that industry wages are significantly more responsive than industry employment to exchange rate changes. We offer an explanation for this paradoxical finding. Using Current Population Survey data for 1976 through 1998, we document that the main mechanism for exchange rate effects on wages occurs through job turnover and the strong consequences this has for the wages of workers undergoing such job transitions. By contrast, workers who remain with the same employer experience little, if any, wage impacts from exchange rate shocks. In addition, we find that the least educated workers |
| Subjects: | | who also have the most frequent job changes |
| JEL: | | F31 F3 F4 J30 E24 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Staff Reports, Federal Reserve Bank of New York
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