Fleischman, Charles A. - Federal Reserve Board (Board of Governors of the … - 1999
macroeconomists judge business cycle theories. Because Keynesian models with sticky nominal wages predict countercyclical real wages …, they have been criticized and dismissed in favor of Real Business Cycle models or New Keynesian models based on price … studies constrain real wage cyclicality to be the same irrespective of the source of the business cycle fluctuations. This …