Why Wages Don't Fall During a Recession (English, Truman F. Bewley)

Name: Why Wages Don't Fall During a Recession (English, Truman F. Bewley)
SKU: isbn-9780674009431
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ISBN: 9780674009431

By Truman F. BewleyHarvard University Press

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ISBN-13	9780674009431
ISBN-10	0674009436

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About the Book

A deep question in economics is why wages and salaries don't fall during recessions. This is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply. Although economists have posited many theories to account for wage rigidity, none is satisfactory. Eschewing "top-down" theorizing, Truman Bewley explored the puzzle by interviewing--during the recession of the early 1990s--over three hundred business execut…

ISBN: 9780674009431

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