Does contractual wage rigidity play a role in determining real activity?

From: Southern Economic Journal | Date: April 1, 1992| Author: | Copyright information

I. Introduction

Interest in nominal wage ridigity as a source of macroeconomic fluctuations has waxed and waned over the past half-century. The most recent wave of interest was triggered by the rational expectations revolution of the 1970s, which inspired an improved sticky-wage paradigm. The paradigm posits the existence of short-term contractual arrangements that, in their simplest form, fix wage schedules in nominal terms for a predetermined period (the life of the contract) and leave employment at the discretion of the firm. The most influential examples of the paradigm ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and trade journal articles from HighBeam Research

(Including press releases, facts, information, and biographies)

Orange gets the vote.(Business)
; Orange has been ranked as the number one mobile telephone service provider, for customer satisfaction in the contract sector, in the sixth annual J.D. Power and Associates UK Mobile Telephone Customer Satisfaction Study. The company employs more than 2,000 in Darlington.
Virgin mobile tops phone poll
; ...of the study and this year, it has topped the poll again, making a leap from third in 2006. The company also topped the contract sector poll with high ratings in six of the seven categories checked. Alan Gow, managing director of Virgin Mobile, said: "We're...
Grimness Grips the Contract Sector.(Brief Article)
; THE OUTLOOK IN custom and contract manufacturing has darkened during the past year. Industry analysts that forecast indefinite double-digit sales growth in the pharmaceuticals market two years ago now say the outsourcing business is under severe pressure. Consolidation in the pharmaceutical sector
What residential can learn from thriving contract sector.(beauty and elegance of hotel furniture influence residential segment)
; Susan M. Andrews, Fabric Editor While most of us are in High Point this week to buy, sell or report on residential home furnishings, it would be foolish to ignore the growing crossover between the residential and contract segments of the domestic industry. After all, contract today looks fat and
Promise in contract sector.(News)
; NEW YORK -- Although contract business represents a small piece of the total pie for many finished home textiles suppliers, several companies continue to see promise in the sector. Exhibitors of home textiles products at the recent International Hotel/Motel and Restaurant Show here last month
Vic: Truck drivers descend on parlt demanding new bill
; ...jobs. The Housing Industry Association executive director BILL GAFFNEY says the bill will destroy the housing sector's sub-contract sector and increase the cost of a new house by 30 per cent. Mr GAFFNEY says sub-contractors will be deemed to be employees under...
Vic: Truck drivers descend on parlt demanding new bill = 2
; ...Housing Industry Association (HIA) executive director Bill Gaffney said the Bill would destroy the housing sector's sub-contract sector and increase the cost of a new house by 30 per cent. Mr Gaffney said sub-contractors would be deemed to be employees under...
Dockyard workers in strike warning.(News)
; ...plans. Meanwhile, oil giant BP also announced it is paying off 500 North Sea workers. A further 500 cuts are expected in the contract sector, and Jake Molloy, general secretary of the OILC union, warned job losses in the oil industry threatened safety. An announcement...
Acquisitions: Mannington buys burke; Shaw purchases Zickgraf Hardwood.(Flooring Insider: News/People/Places/Events)(Brief article)
; ...acquisition of Burke is the perfect fit with our strategic growth initiative to become a full-flooring resource for the contract sector, said Jack Ganley, president of Mannington Commercial. We believe that by bringing increased flooring solutions to our customers...
SECTION SETS STANDARD FOR PRECISION MACHINES
; ...inevitably focussed attention on the need to qualify the true definition of the description 'precision', which in the sub-contract sector tends to be incorporated into the title of many companies irrespective of the type of machining capability and quality standards...