Why Wages Don't Fall during a Recession
Book Details
Format
Paperback / Softback
ISBN-10
0674009436
ISBN-13
9780674009431
Publisher
Harvard University Press
Imprint
Harvard University Press
Country of Manufacture
US
Country of Publication
GB
Publication Date
Sep 30th, 2002
Print length
544 Pages
Weight
752 grams
Dimensions
23.00 x 15.30 x 3.40 cms
Product Classification:
Economics
Ksh 7,200.00
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A deep question in economics is why wages and salaries don’t fall during recessions. This is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply. Bewley’s findings contradict most theories of wage rigidity and provide fascinating insights into the problems that prevent labor markets from clearing.
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