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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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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Seller's Description:
Very good in very good dust jacket. Ex-library. Sewn binding. Cloth over boards. 527 p. Contains: Illustrations. Audience: General/trade. LCCN 99016443 Type of material Book Personal name Bewley, Truman F. (Truman Fassett), 1941-Main title Why wages don't fall during a recession / Truman F. Bewley. Published/Created Cambridge, Mass. : Harvard University Press, 1999. Description viii, 527 p. : ill.; 25 cm. ISBN 0674952413 LC classification HD4909. B48 1999 Variant title Why wages do not fall during a recession Subjects Wages. Recessions. Labor supply. Notes Includes bibliographical references (p. [477]-524) and index. Dewey class no. 331.2/1
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