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Journal Article

Procyclical real wages under nominal-wage contracts with productivity variations


Abstract: A modification of existing sticky-wage models to account for the observed cyclical behavior of real wages by means of a model that introduces productivity factors into nominal-wage contracts.

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Review

Publication Date: 1988

Volume: 24

Issue: Q IV

Pages: 11-23