{"id":"https://openalex.org/W2051133393","doi":"https://doi.org/10.1257/0002828053828482","title":"Employment Fluctuations with Equilibrium Wage Stickiness","display_name":"Employment Fluctuations with Equilibrium Wage Stickiness","publication_year":2005,"publication_date":"2005-02-01","ids":{"openalex":"https://openalex.org/W2051133393","doi":"https://doi.org/10.1257/0002828053828482","mag":"2051133393"},"language":"en","primary_location":{"id":"doi:10.1257/0002828053828482","doi":"https://doi.org/10.1257/0002828053828482","is_oa":false,"landing_page_url":"https://doi.org/10.1257/0002828053828482","pdf_url":null,"source":{"id":"https://openalex.org/S23254222","display_name":"American Economic Review","issn_l":"0002-8282","issn":["0002-8282","1944-7981"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Review","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5086784344","display_name":"Robert Ernest Hall","orcid":"https://orcid.org/0000-0001-6117-6729","observed_orcids":["https://orcid.org/0000-0001-6117-6729"]},"institutions":[{"id":"https://openalex.org/I1286498122","display_name":"Hoover Institution","ror":"https://ror.org/04ce9mt19","country_code":"US","type":"facility","lineage":["https://openalex.org/I1286498122"]},{"id":"https://openalex.org/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Robert E Hall","raw_affiliation_strings":["Hoover Institution and Department of Economics, Stanford University, Stanford, CA 94305"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Hoover Institution and Department of Economics, Stanford University, Stanford, CA 94305","institution_ids":["https://openalex.org/I1286498122","https://openalex.org/I97018004"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5086784344"],"corresponding_institution_ids":["https://openalex.org/I1286498122","https://openalex.org/I97018004"],"apc_list":null,"apc_paid":null,"fwci":152.649,"has_fulltext":false,"cited_by_count":1406,"citation_normalized_percentile":{"value":0.99988017,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":99,"max":100},"biblio":{"volume":"95","issue":"1","first_page":"50","last_page":"65"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10208","display_name":"Labor market dynamics and wage inequality","score":0.7289999723434448,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10208","display_name":"Labor market dynamics and wage inequality","score":0.7289999723434448,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.1509999930858612,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.08799999952316284,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/wage-rigidity","display_name":"wage rigidity","score":0.796999990940094},{"id":"https://openalex.org/keywords/employment-fluctuations","display_name":"employment fluctuations","score":0.8050000071525574},{"id":"https://openalex.org/keywords/matching-frictions","display_name":"matching frictions","score":0.6570000052452087},{"id":"https://openalex.org/keywords/unemployment","display_name":"unemployment","score":0.6340000033378601},{"id":"https://openalex.org/keywords/job-vacancies","display_name":"job vacancies","score":0.8669999837875366},{"id":"https://openalex.org/keywords/recession","display_name":"economic recession","score":0.6460000276565552},{"id":"https://openalex.org/keywords/labour-market-slack","display_name":"labor market slack","score":0.7879999876022339},{"id":"https://openalex.org/keywords/job-loss","display_name":"job loss","score":0.4950000047683716}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8480526804924011},{"id":"https://openalex.org/C2778126366","wikidata":"https://www.wikidata.org/wiki/Q41171","display_name":"Unemployment","level":2,"score":0.7022577524185181},{"id":"https://openalex.org/C2777388388","wikidata":"https://www.wikidata.org/wiki/Q6821213","display_name":"Wage","level":2,"score":0.6692692041397095},{"id":"https://openalex.org/C165064840","wikidata":"https://www.wikidata.org/wiki/Q1321061","display_name":"Matching (statistics)","level":2,"score":0.6608240008354187},{"id":"https://openalex.org/C195742910","wikidata":"https://www.wikidata.org/wiki/Q176494","display_name":"Recession","level":2,"score":0.6337764263153076},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.5149244070053101},{"id":"https://openalex.org/C103382277","wikidata":"https://www.wikidata.org/wiki/Q282640","display_name":"General equilibrium theory","level":2,"score":0.4871387183666229},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.26976215839385986},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.21476876735687256},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.17034175992012024},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.0},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1257/0002828053828482","doi":"https://doi.org/10.1257/0002828053828482","is_oa":false,"landing_page_url":"https://doi.org/10.1257/0002828053828482","pdf_url":null,"source":{"id":"https://openalex.org/S23254222","display_name":"American Economic Review","issn_l":"0002-8282","issn":["0002-8282","1944-7981"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Review","raw_type":"journal-article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.378.1432","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.378.1432","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.stanford.edu/~rehall/EmpFlucAERMarch2005.pdf","raw_type":"text"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.410.5471","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.410.5471","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://web.econ.unito.it/bagliano/phdmacro/hall_aer05.pdf","raw_type":"text"},{"id":"pmh:oai:RePEc:aea:aecrev:v:95:y:2005:i:1:p:50-65","doi":null,"is_oa":false,"landing_page_url":"http://www.aeaweb.org/articles.php?doi=10.1257/0002828053828482","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":1.0}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":51,"referenced_works":["https://openalex.org/W40048283","https://openalex.org/W1542505976","https://openalex.org/W1579116444","https://openalex.org/W1966190525","https://openalex.org/W1977382917","https://openalex.org/W1994399477","https://openalex.org/W1995278743","https://openalex.org/W2001660200","https://openalex.org/W2009477546","https://openalex.org/W2019241877","https://openalex.org/W2030243732","https://openalex.org/W2032065642","https://openalex.org/W2032830535","https://openalex.org/W2039531996","https://openalex.org/W2042413420","https://openalex.org/W2061880650","https://openalex.org/W2063177899","https://openalex.org/W2063773487","https://openalex.org/W2075009233","https://openalex.org/W2080196427","https://openalex.org/W2087530244","https://openalex.org/W2091199382","https://openalex.org/W2098190214","https://openalex.org/W2106817194","https://openalex.org/W2112374372","https://openalex.org/W2112701330","https://openalex.org/W2121640619","https://openalex.org/W2130128307","https://openalex.org/W2133724867","https://openalex.org/W2133802746","https://openalex.org/W2144828605","https://openalex.org/W2166915386","https://openalex.org/W2169442596","https://openalex.org/W2171046666","https://openalex.org/W2233541844","https://openalex.org/W2320686922","https://openalex.org/W3021853306","https://openalex.org/W3082168907","https://openalex.org/W3121408141","https://openalex.org/W3121557616","https://openalex.org/W3121814081","https://openalex.org/W3122808218","https://openalex.org/W3122897135","https://openalex.org/W3124126354","https://openalex.org/W3124800625","https://openalex.org/W3125420330","https://openalex.org/W3125615263","https://openalex.org/W3126091267","https://openalex.org/W4247765758","https://openalex.org/W4298005629","https://openalex.org/W4394945775"],"related_works":["https://openalex.org/W7095751924","https://openalex.org/W2091199382","https://openalex.org/W2726224333","https://openalex.org/W2142230268","https://openalex.org/W2253151928","https://openalex.org/W1550292929","https://openalex.org/W3123237696","https://openalex.org/W2096089526","https://openalex.org/W1504611832","https://openalex.org/W2078584013"],"abstract_inverted_index":{"Following":[0],"a":[1,72],"recession,":[2],"the":[3,32,36,50,62,65,76,92,110,122,128],"aggregate":[4],"labor":[5,37],"market":[6,38],"is":[7],"slack\u2013employment":[8],"remains":[9],"below":[10],"normal":[11],"and":[12,22,90],"recruiting":[13],"efforts":[14],"of":[15,28,35,52,57,64,75,113,136],"employers,":[16],"as":[17],"measured":[18],"by":[19],"help-wanted":[20],"advertising":[21],"vacancies,":[23],"are":[24],"low.":[25],"A":[26],"model":[27,66,74,123],"matching":[29],"friction":[30],"explains":[31],"qualitative":[33],"responses":[34],"to":[39,47,67,127],"adverse":[40],"shocks,":[41],"but":[42],"requires":[43],"implausibly":[44],"large":[45],"shocks":[46],"account":[48],"for":[49,102],"magnitude":[51],"observed":[53],"fluctuations.":[54,137],"The":[55,83],"incorporation":[56],"wage":[58,79],"stickiness":[59,80,84],"vastly":[60],"increases":[61],"sensitivity":[63],"driving":[68],"forces.":[69],"I":[70],"develop":[71],"new":[73],"way":[77],"that":[78,94],"affects":[81],"unemployment.":[82],"arises":[85],"in":[86],"an":[87,99,125],"economic":[88],"equilibrium":[89],"satisfies":[91],"condition":[93],"no":[95],"worker-employer":[96],"pair":[97],"has":[98],"unexploited":[100],"opportunity":[101],"mutual":[103],"improvement.":[104],"Sticky":[105],"wages":[106],"neither":[107],"interfere":[108],"with":[109],"efficient":[111],"formation":[112],"employment":[114],"matches":[115],"nor":[116],"cause":[117],"inefficient":[118],"job":[119],"loss.":[120],"Thus":[121],"provides":[124],"answer":[126],"fundamental":[129],"criticism":[130],"previously":[131],"directed":[132],"at":[133],"sticky-wage":[134],"models":[135]},"counts_by_year":[{"year":2026,"cited_by_count":28},{"year":2025,"cited_by_count":45},{"year":2024,"cited_by_count":56},{"year":2023,"cited_by_count":50},{"year":2022,"cited_by_count":55},{"year":2021,"cited_by_count":53},{"year":2020,"cited_by_count":57},{"year":2019,"cited_by_count":37},{"year":2018,"cited_by_count":60},{"year":2017,"cited_by_count":50},{"year":2016,"cited_by_count":78},{"year":2015,"cited_by_count":104},{"year":2014,"cited_by_count":61},{"year":2013,"cited_by_count":73},{"year":2012,"cited_by_count":87}],"updated_date":"2026-11-10T11:39:43.021295","created_date":"2016-06-24T00:00:00"}