Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/21181 
Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 325
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
In the time domain, the observed cyclical behavior of the real wage hides a range of economic influences that give rise to cycles of differing lengths and amplitudes. This may serve to produce a distorted picture of wage cyclicality. Here, we employ frequency domain methods that allow us decompose wages into cyclical components and to assess the relative contribution of each component. These are discussed in relation to wages alone (the univariate case) and to wages in relation to production or employment-based measures of the cycle (multivariate). In the multivariate dimension, we derive methods for determining whether (i) wage and business cycles cohere (ii) lead-lag or contemporaneous relationships exist and (iii) the degree of coherency between wage and business cycles is time dependent. We establish that real wages are strongly procyclical and that the business cycle is the dominant associated influence.
Schlagwörter: 
Frequency domain
univariate case
multivariate case
phase shift
real wage cycles
JEL: 
J31
E32
Dokumentart: 
Working Paper

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