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Why Wages Don't Fall during a Recession
- Binding:
- Paperback
- Pages:
- 544
- Published:
- September 29, 2002
- Dimensions:
- 153x230x34 mm.
- Weight:
- 752 g.
Delivery:
2-4 weeks
Expected delivery: December 26, 2024
Extended return policy to January 30, 2025
Description of Why Wages Don't Fall during a Recession
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. Bewley's findings contradict most theories of wage rigidity and provide fascinating insights into the problems that prevent labor markets from clearing.
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