Real wages in the business cycle and the theory of income distribution: an unresolved conflict between theory and facts in mainstream macroeconomics
探讨主流宏观经济学在解释经济周期中实际工资与就业的协同变动时，理论与事实之间的持续冲突，指出为调和二者而引入的特定假设常被后续研究否定，并认为这反映了主流理论基础的缺陷。
The focus of this article is the recurring tension between mainstream macroeconomics \nand observed facts in connection with the difficult task of providing explanations \nof the business cycle consistent both with the traditional theory of income \ndistribution and with the empirical evidence concerning the co-movements of real \nwages and employment over the cycle. The attempts to reconcile facts and theory \nhave led to the continuous introduction of specific and arguably ad hoc hypotheses, \nin contrast with the search for greater theoretical rigour claimed by the various \nstreams of macroeconomic modelling subsequent to the neo-classical synthesis. In \naddition, the specific assumptions introduced in the models, or their implications, \nare in turn often contradicted or, at best, not confirmed by subsequent empirical \nresearch. It is suggested in the conclusions that the difficulty of keeping together in \na simple and consistent framework theory and facts reflects the flawed theoretical \nfoundations of mainstream theory.