IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

A Helicopter Tour of Competing Theories of Wage Rigidity, As Applied to the Great Depression

This paper evaluates competing theories of wage rigidity against available quantitative and qualitative evidence from the 1930s. I focus on five explanations of wage stickiness in particular: institutional impediments to wage adjustment; labor-supply explanations; efficiency wages; implicit contracts; and insider-outsider models. The quantitative evidence includes results of cross-industry regressions on the 1929-31 percent change in hourly earnings and the 1929 level of hourly earnings, as well as various data on wage changes, hours, turnover, and strikes. Labor-supply explanations are found wanting, as are models that attribute wage stickiness to employer efforts to reduce labor turnover. Versions of efficiency wage and implicit contract theories that emphasize worker morale fare the best, as they are consistent with several empirical regularities and with the statements of contemporaries.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://economic.oswego.edu/papers/helitour.pdf
Our checks indicate that this address may not be valid because: 500 Can't connect to economic.oswego.edu:80 (10060). If this is indeed the case, please notify (John Kane)


Download Restriction: no

Paper provided by Department of Economics, SUNY-Oswego in its series Departmental Working Papers with number 199801.

as
in new window

Length: 51 pages
Date of creation: 09 Nov 1998
Date of revision: 09 Nov 1998
Handle: RePEc:nyo:oswaaa:199801
Contact details of provider: Postal: Department of Economics, SUNY-Oswego, Oswego, NY 13126, U.S.
Phone: 315-312-2175
Fax: 315-312-5444
Web page: http://www.oswego.edu/~economic/
Email:


More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:nyo:oswaaa:199801. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John Kane)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.