Contracts, Job Experience, and Cyclical Labor Market Adjustments
利用纵向数据估计了不同工作经验水平下工人工资、工时和工作周数随经济周期变化的波动性，发现任期越长的工人工资和工时波动越大，但工作周数波动越小。
Longitudinal estimates of the variability of individual wages, hours, and weeks worked over the course of changing demand states are provided for all workers generally and for workers of varied levels of job experience. Emphasis is placed on that part of job experience represented as years on current job, a commonly used proxy for the magnitude of firm-specific skills. Interpretation of resulting estimates in the context of the labor market contracting literature is attempted. Generally significant procyclical patterns are found for real weekly wages, weekly hours, and weeks worked. The extent of weekly wage variability is much greater than is generally suggested in the literature. Furthermore, workers with greater tenure exhibit greater cyclical wage and hours variability and less weeks variability. Finally, empirical distinctions are drawn separately for white-collar and blue-collar as well as union and nonunion workers.