A Behavioral Explanation for Normal Wage Rigidity During the Great Depression
用企业行为理论解释大萧条头两年制造业名义工资为何在名义需求大幅下降时保持不变，关注企业改变工资决策规则的原因。
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.