are downward nominal wage rigidity, a Taylor-type interest-rate feedback rule, the zero bound on nominal rates, and a …

This paper examines the ability of a simple stylized general equilibrium model that incorporates nominal wage rigidity … support for the hypothesis that a monetary contraction operating through a sticky wage channel played a significant role in … the price decline having a much larger unanticipated component during the Depression, as well as less flexible wage …

relationship across US states between local employment and wage growth during the Great Recession. This relationship is much weaker … during the Great Recession, but the wage stickiness necessary for them to account for the slow employment recovery and the … that our methodology yields different conclusions about the causes of aggregate employment and wage dynamics between 2007 …

Building on earlier work by Eichengreen and Sachs, we use data for 22 countries to study the role of wage stickiness in …