Why Wages Don't Fall During a Recession 在线电子书 pdf 下载 txt下载 epub 下载 mobi 下载 2024

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Truman F. Bewley 作者

Harvard University Press

译者

2002-9-30 出版日期

544 页数

GBP 24.95 价格

Paperback

丛书系列

9780674009431 图书编码

Why Wages Don't Fall During a Recession 在线电子书图书标签: 经济学经济宏观经济学 econ

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Why Wages Don't Fall During a Recession 在线电子书 epub 下载 mobi 下载 pdf 下载 txt 下载 2024

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A deep question in economics is why wages and salaries don't fall during recessions. this is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply. Although economists have posited many theories to account for wage rigidity, none is satisfactory. eschewing "top-down" theorizing, the author explored the puzzle by interviewing - during the recession of the early 1990s - over 300 business executives and labour leaders as well as professional recruiters and advisors to the unemployed. By taking this approach, gaining the confidence of his interlocutors and asking them detailed questions in a nonstructured way, he was able to uncover empirically the circumstances that give rise to wage rigidity. He found that the executives were averse to cutting wages of either current employees or new hires, even during the economic downturn when demand for their products fell sharply. They believed that cutting wages would hurt morale, which they felt was critical in gaining the cooperation of their employees, and in convincing them to internalize the managers' objectives for the company. Bewley's findings contradict most theories of wage rigidity and provide fascinating insights into the problems businesses face that prevent labour markets from clearing.

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