Economics, Econometrics and Finance
8 years ago

Unemployment Differences Permanently Reflected in Wages, Impacting Worker Livelihoods

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The Quarterly Journal of Economics
Permanent Differences in Unemployment and Permanent Wage Differentials
James D. Adams

Paper Summary

The study looked at how differences in unemployment rates affect wages. They found that when industries have more long-term unemployment, wages go up. But when industries have short-term unemployment, wages go down. This shows that job contracts consider long-term unemployment risks and share short-term risks.

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