Chilean paper analyses unemployment’s impact on wages
Analyses Chilean data from 1990–2012, proposes a dynamic earnings process
Unemployment spells are the most important source of earnings risk for workers, according to a working paper published this week by the Central Bank of Chile.
In Identification of earnings dynamics using rotating samples over short periods: the case of Chile, Carlos Madeira analyses Chilean data from 1990 to 2012 to propose a dynamic earnings process. Madeira considers two distinct shocks: unemployment spells and the wage of workers who stay employed.
"The idiosyncratic wage volatility of
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