Goldin, Claudia; Margo, Robert A. - National Bureau of Economic Research - 1989
antebellum fluctuations were more apparent than real; nominal wages, not labor quantities, did most of the adjusting. We analyze … agricultural labor than for other occupations, less for growing regions than for more mature ones, less for unskilled than for … skilled labor, and probably less before 1860 than after. Although nominal wages and prices never strayed far from each other …