Along with house rents, wages have frequently been described as the "stickiest" prices in the economy, rarely adjusted … more than once a year. Because of this stickiness (which arises from the transactions costs involved in changing wages), a … distinction exists between the adjustment of wages and the size of that adjustment. This distinction has important implications …

financially constrained offer an increasing wage profile: They pay lower wages today in exchange of higher wages once they become … unconstrained and operate at a larger scale. In equilibrium, constrained firms are on average smaller and pay lower wages. In this … way the model generates a positive relation between firm size and wages. Using data from the National Longitudinal Survey …

demand and the dynamic interaction between the two in the context of the U.S. telecommunications industry over an extended … on the cost structure, employment and capital formation of the telecommunications industry in the U.S …