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Working Paper

Macro- and Microeconomic Consequences of Wage Rigidity

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This article reviews a well-established macroeconomic literature -- wage rigidity -- from the perspective of human resource managers and economic researchers. As we demonstrate, human resource policies can subtly alter the rigidity of wages. Fortunately, the potential existence and impact of wage rigidities has long been an active area of economic research whose results can be used to guide human resource managers’ policy reviews.
08.01.1996ISSN 2573-7953 WP 96-07DOI 10.26509/frbc-wp-199607

Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.

Suggested Citation

Groshen, Erica, and Mark E. Schweitzer. 1996. “Macro- and Microeconomic Consequences of Wage Rigidity.” Federal Reserve Bank of Cleveland, Working Paper No. 96-07. https://doi.org/10.26509/frbc-wp-199607