It takes the average reader and 39 minutes to read The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages by Mr.Eswar Prasad
Assuming a reading speed of 250 words per minute. Learn more
This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same degree of cyclical variation in wages. However, important differences emerge in the patterns of employment and hours variation for skilled versus unskilled workers, especially when a college degree is used as a proxy for skills. We find that the quality of labor input per manhour tends to rise in recessions, thereby inducing a countercyclical bias in aggregate measures of the real wage. We also find substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, which we interpret as indicative of important inter-industry differences in labor contracting.
The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages by Mr.Eswar Prasad is 38 pages long, and a total of 9,804 words.
This makes it 13% the length of the average book. It also has 12% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 53 minutes to read The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages aloud.
The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages is suitable for students ages 8 and up.
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