Dighe, Ranjit S.; Schmitt, Elizabeth Dunne - In: The North American Journal of Economics and Finance 21 (2010) 2, pp. 165-181
This paper attempts to determine whether nominal wages became less responsive to labor market and price fluctuations during the 1920s or 1930s. Results of modified Phillips curve regressions, in which the monthly value of wages depends on lagged values of employment or total man-hours and...