Wages, Productivity and Work Intensity in the Great Depression

Julia Darby and Robert Hart

Working Papers from Business School - Economics, University of Glasgow

Abstract: We show that U.S. manufacturing wages during the Great Depression were importantly determined by forces on firms' intensive margins. Short-run changes in work intensity and the longer-term goal of restoring full potential productivity combined to influence real wage growth. By contrast, the external effects of unemployment and replacement rates had much less impact. Empirical work is undertaken against the background of an efficient bargaining model that embraces employment, hours of work and work intensity.

Date: 2002-07
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Related works:
Journal Article: Wages, Productivity, and Work Intensity in the Great Depression (2008)
Working Paper: Wages, Productivity, and Work Intensity in the Great Depression (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:gla:glaewp:2002_7

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