Posted wage rigidity
This study will look at a key statistic for understanding wage rigidity: the rigidity of the wages of new hires. Theoretically, the wage level of new hires is important for making sense of variations in hiring across the business cycle. But there isn’t much empirical research on this statistic. Hazell is using data from online job vacancy postings to build a statistic that accounts for the changing composition of posted jobs as the labor market slackens and tightens.