Boston Fed finds evidence of sticky wages
A Boston Federal Reserve paper published on Friday finds evidence that wage adjustments in the United States are very sluggish.
Alessandro Barattieri, Susanto Basu and Peter Gottschalk, the paper's authors, use data on wages, employment, and demography on a large sample of workers in the United States from 1996 to 1999 to examine the frequency of nominal wage adjustments.
Barattieri, Basu and Gottschalk show that wages are very sticky and that in an average quarter the probability that an
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