Real Wages Over the Business Cycle
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Lynn A. Pollnow', 'PO_EMAI': None, 'PO_PHON': None}
The cyclical behavior of real wages has traditionally been regarded as          an important issue for understanding business cycles.  A long history           of empirical research on this topic, however, has produced a                    bewildering array of conflicting evidence.  Recently this has led many          macroeconomists to formulate theoretical models that imply no cyclical          pattern in real wages.  Numerous fragments of evidence, however,                suggest that the seemingly non-cyclical behavior of aggregate real              wages on average masks regular underlying patterns which vary according         to sector and whether the time period is dominated by real or nominal           shocks.  The purpose of this project is to: (a) systematically catalog          the real wage implications of alternative theories, with special                attention to multi-sector models; (b) conduct new empirical analyses            including detailed investigations of how real wage patterns vary with           time period, union status, and several relevant industry groupings; (c)         treat composition biases inherent in aggregate time series data through         careful use of longitudinal microdata from the Michigan Panel Study of          Income Dynamics. This research is important because it will provide a           better understanding of the behavior of real wages over the business            cycle.
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{'Code': '1320', 'Text': 'Economics'}
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1987&All=true', 'xml': '8709217.xml'}