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Why wages don't fall during a recession

Author: Truman F Bewley
Publisher: Cambridge, Mass. : Harvard University Press, 1999.
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
This book discusses information from over 300 business executives and labor leaders as well as professional recruiters and advisors to unemployed workers.
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Additional Physical Format: Online version:
Bewley, Truman F. (Truman Fassett), 1941-
Why wages don't fall during a recession.
Cambridge, Mass. : Harvard University Press, 1999
(OCoLC)651832853
Document Type: Book
All Authors / Contributors: Truman F Bewley
ISBN: 0674952413 9780674952416 0674009436 9780674009431
OCLC Number: 41572547
Description: viii, 527 pages : illustrations ; 25 cm
Contents: 1. Introduction --
2. Methods --
3. Time and Location --
4. Morale --
5. Company Risk Aversion --
6. Internal Pay Structure --
7. External Pay Structure --
8. Shirking Theory --
9. Pay of New Hires in the Primary Sector --
10. Raises --
11. Resistance to Pay Reduction --
12. Experiences with Pay Reduction --
13. Layoffs --
14. Severance Benefits --
15. Hiring --
16. Voluntary Turnover --
17. Secondary Sector --
18. Unemployed --
19. Information, Wage Rigidity, and Labor Negotiations --
20. Existing Theories --
21. Remarks on Theory --
22. Whereto from Here?
Other Titles: Why wages do not fall during a recession
Responsibility: Truman F. Bewley.

Abstract:

A question in economics is why, unlike other prices, wages and salaries don' t fall during recessions? The author explored the puzzle by interviewing - during the recession on the early 1990s - over  Read more...

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This contribution to the growing literature on behavioral macroeconomics threatens to disturb the tranquil state of macroeconomic theory that has prevailed in recent years...Bewley's argument will be Read more...

 
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