Solon, Gary; Barsky, Robert; Parker, Jonathan A - In: The Quarterly Journal of Economics 109 (1994) 1, pp. 1-25
In the period since the 1960s, as in other periods, aggregate time series on real wages have displayed only modest cyclicality. Macroeconomists, therefore, have described weak cyclicality of real wages as a salient feature of the business cycle. Contrary to this conventional wisdom, the authors'...