Employment versus wage adjustment and the U.S. dollar
By: José Manuel Campa and Linda S. Goldberg.
Contributors: Goldberg, Linda S.; Federal Reserve Bank of New York.
Series: Staff reports ;; no. 56; Staff reports (Federal Reserve Bank of New York : Online) ;; no. 56.
Publisher: Federal Reserve Bank of New York
Published: 1998
Place of publication: [New York, N.Y.]
Language: eng
Format: Electronic resource
Subjects: Foreign exchange rates -- United States -- Econometric models.; Wages -- United States -- Econometric models.; Labor market -- United States -- Econometric models.
Description: "Using two decades of annual data, we explore the links between real exchange rates and employment, wages, and overtime activity in specific U.S.  manufacturing industries.  Across two-digit industry levels of aggregation, exchange rate movements do not have large effects on numbers of jobs or on hours worked.  More substantial effects are picked up in industry wages, especially for industries characterized by low price-over-cost markup ratios, and in overtime wages and overtime employment.  The industry-by-industry pattern of wage responsiveness is not strongly related to industry export orientation or changes in overall external orientation.  Industries with low price-over-cost markups and those with a less skilled workforce exhibit relatively larger employment elasticities but lower wage elasticities"--Federal Reserve Bank of New York web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 2/3/2005.
Also available in print.
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Mode of access: World Wide Web.