Hoover's Truce: Wage Rigidity in the Onset of the Great Depression
分析了胡佛总统通过两次会议鼓励企业维持高工资，导致大萧条初期工资刚性的作用，发现会议仅延迟了少数大企业的小时工资削减，但行业层面无显著影响。
This article analyzes President Herbert Hoover's role in causing wage rigidity during the onset of the Great Depression, through two conferences in which he encouraged business leaders to maintain high wages. New data on the set of firms and trade associations attending these conferences provides evidence that Hoover's conferences delayed the cuts in hourly wages at a small number of large firms, although this result may have been due to characteristics of the particular industries the firms represented. In a cross-section of industries, there is no evidence that industry representation at the December conference affected the timing of wage cuts.