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Federal Reserve Bank of Kansas City
Macro Bulletin
Nominal Wage Rigidities and the Future Path of Wage Growth
Jose Mustre-del-Rio
Emily Pollard
Abstract

Wage growth has been modest since the end of the Great Recession, puzzling many market observers and policymakers. Article examines the relationship between wage growth and nominal wage rigidities—the share of workers whose wages have not changed—and find the current pace of wage growth is not historically unusual. The results suggest wage growth may continue on its gradual path as long as the incidence of wage rigidities remains elevated.


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Jose Mustre-del-Rio & Emily Pollard, "Nominal Wage Rigidities and the Future Path of Wage Growth" , Federal Reserve Bank of Kansas City, Macro Bulletin, pages 1-4, number 00065, May 10 2018.
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Keywords: Wages; Wage Growth; Nominal Wage Rigidities
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