How sticky were wages during the Great Depression? Although classic accounts emphasize the importance of nominal rigidity in amplifying deflationary shocks, the evidence is limited. In this paper, I calculate the degree of nominal wage rigidity in the United Kingdom between the wars using new...

Part II. Crises and Cycles Calculation of the aggregated "consensus" industrial production index has made it possible to date cyclical turning points and to measure the depth and length of the main industrial recessions in Russian Empire/USSR/Russia for the last century and a half. The most...

We find robust evidence that cohorts of male graduates who start college during worse economic times earn higher average wages than those who start during better times. This gap is not explained by differences in selection into employment, in economic conditions at the time of college...

We find robust evidence that cohorts of graduates who enter college during worse economic times earn higher average wages than those who enter during better times. This difference is not explained by differences in economic conditions at the time of college graduation, changes in field of study...

The increase in the real wages of British workers over the last one hundred years is often attributed to the growth in labour productivity, but this has rarely been confirmed. In the research reported here, this ascription is confronted with annual observations on wages and productivity spanning...