This paper attempts to determine whether nominal wages became less responsive to labor market and price fluctuations during the 1920s or 1930s. Results of modified Phillips curve regressions, in which the monthly value of wages depends on lagged values of employment or total man-hours and prices, indicate considerable stickiness of wages throughout the interwar period. Neither the beginning of the Great Depression in 1929 nor the start of the New Deal in 1933 is associated with any discernible increase in wage stickiness. And the "Great Deflation" of 1920-1922 apparently did not include a greater responsiveness of wages to prices or labor-market conditions.Wage Rigidity Depression Business cycle
The Great Depression is to economics what the Big Bang is to physics. Asan event, the Depression is ...
This paper explains shifts in the level of economic activity in Britain in the interwar period, part...
The paper surveys the studies on the cyclical behaviour of real wages published from the twenties on...
This paper examines the hypotheses that the length and the depth of the Great Depression were a resu...
This article examines the relative importance of sticky wages and sticky prices in explaining the le...
How sticky were wages during the Great Depression? Although classic accounts emphasize the importanc...
How sticky were wages during the Great Depression? Although classic accounts emphasise the importanc...
The conventional wisdom among economists today is that wages have become less sensitive to aggregate...
We quantify the role of contractionary monetary shocks and wage rigidities in the U.S. Great Contrac...
Impressed by the sweeping implications of the mind-body problem, the German philosopher Arthur Schop...
This study examines relative wage variability across industries between 1860 and 1983. The variance ...
The paper studies wage and employment determination in the Swedish business sector from the mid-1910...
This paper estimates a series of shocks to hit the US economy during the Great Depression, using a N...
We document sectoral differences in changes in output, hours worked, prices, and nominal wages in th...
We present an econometric analysis of wage behaviour in Norway during the interwar years. The analys...
The Great Depression is to economics what the Big Bang is to physics. Asan event, the Depression is ...
This paper explains shifts in the level of economic activity in Britain in the interwar period, part...
The paper surveys the studies on the cyclical behaviour of real wages published from the twenties on...
This paper examines the hypotheses that the length and the depth of the Great Depression were a resu...
This article examines the relative importance of sticky wages and sticky prices in explaining the le...
How sticky were wages during the Great Depression? Although classic accounts emphasize the importanc...
How sticky were wages during the Great Depression? Although classic accounts emphasise the importanc...
The conventional wisdom among economists today is that wages have become less sensitive to aggregate...
We quantify the role of contractionary monetary shocks and wage rigidities in the U.S. Great Contrac...
Impressed by the sweeping implications of the mind-body problem, the German philosopher Arthur Schop...
This study examines relative wage variability across industries between 1860 and 1983. The variance ...
The paper studies wage and employment determination in the Swedish business sector from the mid-1910...
This paper estimates a series of shocks to hit the US economy during the Great Depression, using a N...
We document sectoral differences in changes in output, hours worked, prices, and nominal wages in th...
We present an econometric analysis of wage behaviour in Norway during the interwar years. The analys...
The Great Depression is to economics what the Big Bang is to physics. Asan event, the Depression is ...
This paper explains shifts in the level of economic activity in Britain in the interwar period, part...
The paper surveys the studies on the cyclical behaviour of real wages published from the twenties on...