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business cycle puzzle
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efficiency wage
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Gift exchange and the business cycle: the fair wage strikes back
Collard, Fabrice
;
de la Croix, David
-
Institut de Recherche Économique et Sociale (IRES), …
-
1996
useful to solve the
business
cycle
puzzle
when we allow for inter-temporal wage comparisons. …
Persistent link: https://www.econbiz.de/10004985038
Saved in:
2
Gift Exchange and the Business Cycle: The Fair Wage Strikes Back
Collard, Fabrice
;
Croix, David de la
- In:
Review of Economic Dynamics
3
(
2000
)
1
,
pp. 166-193
adequately captured when norms adjust slowly to the environment. Fair wages are thus useful to solve the
business
cycle
puzzle
…
Persistent link: https://www.econbiz.de/10005069710
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