The reason we worry about recessions is mostly involuntary unemployment. Because recessions cause employment fluctuations, and this affects the entire economy. But, why do recessions cause employment fluctuations? Indeed, this question is one of the most important questions at the heart of macroeconomics, and it shows us why nominal variables and wage stickiness is so […]
All posts for the month October, 2021
Sticky Wages: The Key Problem of Macro
Posted by kgorgen on October 12, 2021
https://www.themoneymischief.com/sticky-wages-the-key-problem-of-macro/
