Nominal Wage Rigidity and the Rate of Inflation
利用英国新收入调查数据，研究名义工资向下刚性程度，以及低通胀时这种刚性是否阻碍必要的实际工资调整。发现长期通胀每提高1%，实际工资负增长人数增加约1.4%。
Using the accurate and extensive data available in the UK New Earnings Survey, this paper investigates the extent to which nominal wages are downwardly rigid and whether such rigidity interferes with necessary real wage adjustments when inflation is low. Despite the substantial numbers of individuals whose nominal wages fall from one year to the next, we find that if long-run inflation is one percent higher, the number of individuals with negative real pay growth increases by around 1.4 percent. This is controlling for the median and dispersion of the real wage change distribution.