Why does the cyclical behavior of real wages change over time?

Kevin Huang (), Zheng Liu and Louis Phaneuf

No RWP 02-09, Research Working Paper from Federal Reserve Bank of Kansas City

Abstract: This paper seeks to understand the evolution of the cyclical behavior of U.S. real wage rates from the interwar period to the post World War II period using a dynamic general equilibrium model that emphasizes demand-driven business cycle fluctuations. In the model, changes in the cyclical behavior of real wages arise endogenously from the interactions between nominal wage and price rigidities and an evolving input-output structure.

Keywords: Wages (search for similar items in EconPapers)
Date: 2002
New Economics Papers: this item is included in nep-dge and nep-mac
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Citations: View citations in EconPapers (58)

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Related works:
Journal Article: Why Does the Cyclical Behavior of Real Wages Change Over Time? (2004)
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