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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https://fraser.stlouisfed.org/title/economic-review-federal-reserve-bank-cleveland-1328/1988-quarter-4-4251?page=13
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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