Why Does the Cyclical Behavior of Real Wages Change Over Time?
发现实际工资的周期行为从战前的轻微逆周期变为战后的温和顺周期，并通过一个包含名义刚性和投入产出结构演变的模型解释这一变化。
The cyclical behavior of real wages has evolved from mildly countercyclical during the interwar period to modestly procyclical in the postwar era. This paper presents a general-equilibrium business-cycle model that helps explain the evolution. In the model, changes in the real wage cyclicality arise from interactions between nominal wage and price rigidities and an evolving input-output structure.