KEYNESIAN CONTROVERSIES ON WAGES

• 成果类型: Article
• 署名作者: Pencavel, John
• 署名单位: Stanford University
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12201
• 发表日期: 2015
• 页码: 295-309
• 关键词: real wages; business-cycle; united-kingdom; relative movements; implicit contracts; cyclical behavior; panel data; Micro data; rates; stickiness

摘要

In The General Theory, Keynes advanced two hypotheses about movements in wages and urged their empirical investigation. John Dunlop, Lorie Tarshis and Henry Richardson responded to this call with articles published in the Economic Journal in the late 1930s. In turn, Keynes replied to their findings. This exchange is described and the subsequent literature on the cyclical movement of real wages and the rigidity of money wages is outlined. Dunlop, J.T. (1938). The movement of real and money wage rates', Economic Journal, vol. 48(191), pp. 413-34. Keynes, J.M. (1939). Relative movements of real wages and output', Economic Journal, vol. 49(193), pp. 34-51.