Nominal Wage Stickiness and Aggregate Supply in the Great Depression
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Building on earlier work by Eichengreen and Sachs, we use data for 22 countries to study the role of wage stickiness in propagating the Great Depression. Recent research suggests that monetary shocks, transmitted internationally by the gold standard, were a major cause of the Depression. Accordingly
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美国国家经济研究局创建时间：
1996-01-01
