کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
975421 1479798 2010 17 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Did U.S. wages become stickier between the world wars?
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Did U.S. wages become stickier between the world wars?
چکیده انگلیسی

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.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The North American Journal of Economics and Finance - Volume 21, Issue 2, August 2010, Pages 165–181
نویسندگان
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