Evaluating the Economic Significance of Downward Nominal Wage Rigidity
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The existence of downward nominal wage rigidity has been abundantly documented, but what are its economic implications? This paper demonstrates that, even when wages are allocative, downward wage rigidity can be consistent with weak macroeconomic effects. Firms have an incentive to compress wage
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美国国家经济研究局创建时间：
2006-10-01
