Government, Trade, and Comparative Advantage
Government, Trade, and Comparative Advantage
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政府、贸易和比较优势
DOI：
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发表时间：
1992
期刊：
影响因子：
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通讯作者：
R. Findlay
中科院分区：
文献类型：
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作者：
Richard Clarida;R. Findlay
传统观点认为，名义工资对商业周期变得不那么敏感，在第二次世界大战后变得更加自相关，本文通过考虑这些属性是否是用于构建战前工资序列的方法的产物，重新审视了这一观点。与战后数据相比，基于这些方法的复制具有更强的周期敏感性和更少的自相关性。使用可变而非固定就业权重的汇总也大大夸大了战前工资的周期性。这些偏见意味着，如今的工资对经济周期的敏感程度与100年前一样，甚至可能更甚。版权归美国经济学会所有。
The conventional wisdom that nominal wages became less sensitive to the business cycle and more autocorrelated after World War II is reexamined here by considering whether these properties are artifacts of the methods used to construct prewar wage series. A replication based on these methods is more cyclically sensitive and exhibits less autocorrelation than the postwar data. Aggregation using variable instead of fixed employment weights also greatly exaggerates the cyclicality of prewar wages. These biases imply that wages are just as sensitive to the cycle today as one hundred years ago, perhaps even more so. Copyright 1992 by American Economic Association.