A Behavioral Explanation for Nominal Wage Rigidity During the Great Depression
Nominal wages in manufacturing were left unchanged by the large decline in nominal demand that marked the first two years of the Great Depression. This rigidity in nominal wages is explained using the tools of the behavioral theory of the firm. The emphasis is on the reasons firms changed their deci...
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| Veröffentlicht in: | The Quarterly journal of economics 1989-11, Vol.104 (4), p.719-735 |
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| container_end_page | 735 |
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| container_issue | 4 |
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| container_title | The Quarterly journal of economics |
| container_volume | 104 |
| creator | O Brien, Anthony Patrick |
| description | Nominal wages in manufacturing were left unchanged by the large decline in nominal demand that marked the first two years of the Great Depression. This rigidity in nominal wages is explained using the tools of the behavioral theory of the firm. The emphasis is on the reasons firms changed their decision rules linking fluctuations in final sales to changes in nominal wages. |
| doi_str_mv | 10.2307/2937864 |
| format | Article |
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This rigidity in nominal wages is explained using the tools of the behavioral theory of the firm. The emphasis is on the reasons firms changed their decision rules linking fluctuations in final sales to changes in nominal wages.</description><identifier>ISSN: 0033-5533</identifier><identifier>EISSN: 1531-4650</identifier><identifier>DOI: 10.2307/2937864</identifier><identifier>CODEN: QJECAT</identifier><language>eng</language><publisher>Cambridge, Mass. 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| identifier | ISSN: 0033-5533 |
| ispartof | The Quarterly journal of economics, 1989-11, Vol.104 (4), p.719-735 |
| issn | 0033-5533 1531-4650 |
| language | eng |
| recordid | cdi_proquest_journals_210983094 |
| source | Business Source Complete; Periodicals Index Online; Jstor Complete Legacy |
| subjects | Business conditions Business structures Economic depression Economic depressions Economic theory Effects Great Depression Labor markets Manufacturing Nominal Nominal rigidities Nominal wages Real wages Recessions Steels Studies Wage rate Wage rates Wages Wages & salaries |
| title | A Behavioral Explanation for Nominal Wage Rigidity During the Great Depression |
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