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Procyclical Real Wages Under Nominal - Wage Contracts With Productivity Variations

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A modification of existing sticky-wage models to account for the observed cyclical behavior of real wages by means of a model that introduces productivity factors into nominal-wage contracts.


Suggested citation: Hoehn, James G. “Procyclical Real Wages Under Nominal - Wage Contracts With Productivity Variations,” Federal Reserve Bank of Cleveland, Economic Review, vol. 24, no. 4, pp. 11-23, 12.01.1988.

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