Ups and downs: how wages change over the business cycle

In “Ups and Downs: How Wages Change Over the Business Cycle,” Kevin Huang discusses the shift in the cyclicality of real wages — from countercyclical before World War II to procyclical postwar. He outlines the standard explanation for this change but offers evidence of an alternative explanation: the increased role that intermediate goods play in the production process in the postwar era.

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Year of publication:	2006
Authors:	Huang, Kevin X.D.
Published in:	Business Review. - Federal Reserve Bank of Philadelphia. - 2006, Q2, p. 1-8
Publisher:	Federal Reserve Bank of Philadelphia
Subject:	Wages \| Business cycles

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

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