Résumé:In this paper, we look at how labor market conditions at different points during the tenure of individuals with firms are correlated with current earnings. Using data on individuals from the German Socioeconomic Panel for the 1985-1994 period, http://www.hollisterpascherfr.com/ - www.hollisterpascherfr.com , we find that both the contemporaneous unemployment rate and prior values of the unemployment rate are significantly correlated with current earnings, contrary to results for the American labor market, http://www.abercrombiefitchparisfr.com - abercrombie and fitch paris . Estimated elasticities vary between 9 and 15 percent for the elasticity of earnings with respect to current unemployment rates, and between 6 and 10 percent with respect to unemployment rates at the start of current firm tenure.
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The report is based on a survey of more than 400 CEOs, and it provides great insight into the issues they expect will drive the industry forward in 2004 and beyond. CEOs in the survey say they are very confident that the global economy will pick up and that their companies will achieve a high rate of growth over the next 12 months. Yet they are keeping their enthusiasm in check, taking deliberate steps to position their companies for growth while maintaining a constant focus on profitability.
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