Because inputs are scarce, marginal cost is an increasing function of output. Diminishing
returns, costs of increasing employment as well as the increasing marginal disutility of …

This paper examines the business cycle properties of a small set of a real US
macroeconomic time series using a variety of detrending methods. It is shown that both …

This paper uses a microlevel data set from 49 countries to create a direct measure of
corruption, which portrays the extent of bribery as revealed by individuals who live in those …

AS THESE QUOTATIONS from selected macroeconomists make clear, the debate over the
cyclicality of real wages has a very long history and is filled with conflicting hypotheses and …

The paper surveys the studies on the cyclical behaviour of real wages published from the
twenties onwards. Both traditional simple neoclassical and keynesian models of the labour …

One of the oldest questions in macroeconomics concerns the correlation between the
business cycle and the real wage. We provide new evidence on this question by examining …

The cyclical behavior of real wages has evolved from mildly countercyclical during the
interwar period to modestly procyclical in the postwar era. This paper presents a general …

We study the response of real wages to the business cycle in eight major Eurozone
countries before and during the Great Recession. Average real wages are found to be …

Several recent macroeconomic models assume that real wages are rigid. The wage rigidity
of newly hired workers assumes a crucial role in these models, as the decision of whether to …

The primary purpose of this paper is to test empirically the effect of labour quality on short-
run manufacturing productivity. In doing so, the study makes major advances in two areas …