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Why U.S. Wage and Employment Behavior Differs from That in Britain and Japan

Gordon, Robert J. - 1981

greater flexibility in wages, these two countries also exhibit more stable employment behavior over the business cycle. In …

Persistent link: https://www.econbiz.de/10012478304

Another Look at Whether a Rising Tide Lifts All Boats

Hines, James R, Jr - 2001

-being since the 1970s. Aggregate employment and hours worked in this period are strongly procyclical, particularly for low …

Persistent link: https://www.econbiz.de/10012470306

Observations and Conjectures on the U.S. Employment Miracle

Krueger, Alan B. - 1997

-country differences in employment and population growth. This section finds that the U.S. has managed to absorb added workers … -- especially female workers -- into employment at a greater rate than most countries. The leading explanation for this phenomenon … is that the U.S. labor market has flexible wages and employment practices, whereas European labor markets are rigid. The …

Persistent link: https://www.econbiz.de/10012472667

U.S. Inflation, Labor's Share, and the Natural Rate of Unemployment

Gordon, Robert J. - 1988

The Phillips curve was init-ally formulated as a relationship between the rate of change and unemployment, yet what matters for stabilization policy is the rate of inflation, not the rate of wage change. This paper provides new estimates of Phillips curves for both prices and wages extending...

Persistent link: https://www.econbiz.de/10012476483

Productivity, Wages, and Prices Inside and Outside of Manufacturing in the U.S., Japan, and Europe

Gordon, Robert J. - 1986

This paper studies the dynamic behavior of changes in productivity, wages, and prices. Results are based on a new data set that allows a consistent analysis of the aggregate economy, the manufacturing sector, and the nonmanufacturing sector. Results are presented for the U. S., Japan, and an...

Persistent link: https://www.econbiz.de/10012477000

Wages and Prices Are Not Always Sticky : A Century of Evidence for the United States, United Kingdom, and Japan

Gordon, Robert J. - 1982

Arthur M. Okun's last book, Prices and Quantities, contributes a theory of universal wage and price stickiness, but provides no explanation at all of historical and cross country differences in behavior. The core of this paper provides a new empirical characterization of price and wage changes...

Persistent link: https://www.econbiz.de/10012478264

Price Inertia and Policy Ineffectiveness in the United States, 1890-1980

Gordon, Robert J. - 1981

This paper introduces a new approach to the empirical testing of the Lucas- Sargent-Wallace (LSW) "policy ineffectiveness proposition." Instead of testing that hypothesis in isolation from any plausible alternative, the paper develops a single empirical equation explaining price change that...

Persistent link: https://www.econbiz.de/10012478371