Multigenerational mobility refers to the associations in socioeconomic status across three or more generations. This article begins by summarising the longstanding but recently growing empirical literature on multigenerational mobility. It then discusses multiple theoretical interpretations of...

Multigenerational mobility refers to the associations in socioeconomic status across three or more generations. This article begins by summarising the longstanding but recently growing empirical literature on multigenerational mobility. It then discusses multiple theoretical interpretations of...

For more than 80 years, many macroeconomic analyses have been premised on the assumption that workers' nominal wage rates cannot be cut. The U.S. evidence on this assumption has been inconclusive because of distortions from reporting error in household surveys. Following a British literature, we...

For more than 80 years, many macroeconomic analyses have been premised on the assumption that workers' nominal wage rates cannot be cut. Contrary evidence from household surveys reasonably has been discounted on the ground that the measurement of frequent wage cuts might be an artifact of...