Journal Article
Ups and downs: how wages change over the business cycle
Abstract: In ?Ups and Downs: How Wages Change Over the Business Cycle,? Kevin Huang discusses the shift in the cyclicality of real wages ? from countercyclical before World War II to procyclical postwar. He outlines the standard explanation for this change but offers evidence of an alternative explanation: the increased role that intermediate goods play in the production process in the postwar era.
Keywords: Business cycles; Wages;
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File(s): File format is application/pdf https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/2006/q2/br_q2-2006-1_ups-and-downs.pdf
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Bibliographic Information
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Business Review
Publication Date: 2006
Issue: Q2
Pages: 1-8