Why wages don't fall during a recession

Intro -- Contents -- Acknowledgements -- 1. Introduction -- 2. Methods -- 3. Time and Location -- 4. Morale -- 5. Company Risk Aversion -- 6. Internal Pay Structure -- 7. External Pay Structure -- 8. The Shirking Theory -- 9. The Pay of New Hires in the Primary Sector -- 10. Raises -- 11. Resistance to Pay Reduction -- 12. Experiences with Pay Reduction -- 13. Layoffs -- 14. Severance Benefits -- 15. Hiring -- 16. Voluntary Turnover -- 17. The Secondary Sector -- 18. The Unemployed -- 19. Information, Wage Rigidity, and Labor Negotiations -- 20. Existing Theories -- 21. Remarks on Theory -- 22. Whereto from Here? -- Notes -- References -- Index.