Wages, unemployment, and prices in the United States, 1890û1932, 1947û1957
In this era of widespread collective bargaining, do wages behave differently than in earlier periods when labor markets may have been more competitively structured? The author of this article finds that even in the preNew Deal period, 1890-1932, no more than half of the year-to-year movement of wages in manufacturing industries can be accounted for by changes in the state of the labor market. While the magnitude of wage response to given levels of labor demand (or supply) generally has been greater in the post-World War II period, the analysis shows that, except for depression years, the first decade and a half of the twentieth century experienced wage increases similar to current movements. (Author's abstract courtesy EBSCO.)
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Volume (Year): 15 (1962)
Issue (Month): 2 (January)
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