English, Article edition: The Great Depression in Sweden as a wage coordination failure FREGERT, KLAS

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Bookmark: http://trove.nla.gov.au/version/179492
Physical Description
  • article
Language
  • English

Edition details

Title
  • The Great Depression in Sweden as a wage coordination failure
Author
  • FREGERT, KLAS
Physical Description
  • article
Notes
  • Recent research on the Great Depression has concluded that a worldwide decline in aggregate demand, emanating from the United States, was propagated into a fall in real activity through sticky nominal wages. The question remains: Why were nominal wages so sticky? Based on a wide range of evidence for Sweden, I argue that the 1930s depression is compatible with a coordination failure in wage setting, as first suggested by Keynes.
  • RePEc:cup:ereveh:v:4:y:2000:i:03:p:341-360_00
Language
  • English
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