Dickens, William T.; Goette, Lorenz; Groshen, Erica L.; … - 2006
nominal wage freeze). We expect that,
7
averaged over the business cycle, wage growth equals price inflation plus … affect it. For example, if government, business, and labor agree on a minimum wage
increase meant to apply to all workers … economics, yet many questions
remain to be answered about why these patterns occur. We have offered some hypotheses about
the …