Comments on “Labor Market Behavior” by Truman Bewley
نویسندگان
چکیده
More than a decade ago Professor Bewley set out to answer a difficult question, “Why don’t wages fall in a recession?” After years of painstaking research, involving literally hundreds of interviews with market participants and many, many hours of decoding unstructured information, he reached the answer. “The only one of the many theories of wage rigidity that seems reasonable is the morale theory of Solow and Akerlof.” (page 422)
منابع مشابه
Commentary - May / June 1999
I n preparing my comment on Truman Bewley’s work, I had the privilege of reading a draft of Professor Bewley’s forthcoming book, Why Wages Don’t Fall During a Recession. This book describes an extensive field study, in which Professor Bewley interviewed hundreds of business managers and labor leaders, seeking to understand the puzzling phenomenon of wage rigidity. The paper presented here is an...
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