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NBER Working Papers and Publications
|February 2006||Turbulent Firms, Turbulent Wages?|
with Diego Comin, Erica L. Groshen: w12032
Has greater turbulence among firms fueled rising wage instability in the U.S.? Gottschalk and Moffitt () find that rising earnings instability was responsible for one third to one half of the rise in wage inequality during the 1980s. These growing transitory fluctuations remain largely unexplained. To help fill this gap, this paper further documents the recent rise in transitory fluctuations in compensation and investigates its linkage to the concurrent rise in volatility of firm performance documented by Comin and Mulani  among others. After examining models that explain the relationship between firm and wage volatility, we investigate the linkage in three complementary panel data sets, each with its own virtues and limitations: the Panel Study of Income Dynamics (detailed inf...
Published: Comin, Diego, Erica Groshen and Bess Rabin. "Turbulent firms, turbulent wages?" Journal of Monetary Economics, vol. 56(1), pages 109-133, January 2009. citation courtesy of