Code for "Nominal Wage Adjustments During the Pandemic Recession"

This repository contains the code required to produce the plots in "Nominal Wage Adjustments During the Pandemic Recession." The underlying microdata from which the plots are derived are confidential anonymized payroll records from ADP, LLC. These confidential data are not shared in this repository. The paper's abstract is<br>"In this paper we show that the Pandemic Recession has led to frequent cuts in nominal wages. Within three months in 2020, as many wage cuts had occurred as occurred throughout the Great Recession. Unlike employment declines, wage cuts were concentrated at the top of the wage distribution. However, these cuts have been relatively short-lived, particularly among high-earners. Finally, wage cuts have been concentrated in firms which have seen large employment declines. Wage cuts appear to not be a substitute for cutting employment, at least when the shock to labor demand is this large."