Why Does the Cyclical Behavior of Real Wages Change Over Time?

This paper seeks to understand the evolution of the cyclical behavior of U.S. real wage rates from the interwar period to the post World War II period using a dynamic general equilibrium model that emphasizes demand-driven business cycle fluctuations. In the model, changes in the cyclical behavior of real wages arise endogenously from the interactions between nominal wage and price rigidities and an evolving input-output structure

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Year of publication:	2003
Authors:	Huang, Kevin X. D. ; Liu, Zheng ; Phaneuf, Louis
Publisher:	[S.l.] : SSRN
Subject:	Konjunktur \| Business cycle \| Reallohn \| Real wages \| Theorie \| Theory \| Lohnrigidität \| Wage rigidity \| Dynamisches Gleichgewicht \| Dynamic equilibrium

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Extent:	1 Online-Ressource (38 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 2002 erstellt
Other identifiers:	10.2139/ssrn.386905 [DOI]
Classification:	E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014088238