Resource title

Wages, Productivity, and Work Intensity in the Great Depression

Resource image

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Resource description

We show that U.S. manufacturing wages during the Great Depression were importantly determined by forces on firms' intensive margins. Short-run changes in work intensity and the longer-term goal of restoring full potential productivity combined to influence real wage growth. By contrast, the external effects of unemployment and replacement rates had much less impact. Empirical work is undertaken against the background of an efficient bargaining model that embraces employment, hours of work and work intensity.

Resource author

Julia Darby, Robert A. Hart

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/21385

Resource license

Adapt according to the presented license agreement and reference the original author.