Construct · 1 fields · 1 citations

Hoover high-wage policy: a standalone construct

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Economic history

Hoover's push for firms to hold nominal wages up as prices fell, argued to have raised real wages and deepened the 1929 to 1931 downturn.

In economic history, Hoover high-wage policy refers to Hoover's push for firms to hold nominal wages up as prices fell, argued to have raised real wages and deepened the 1929 to 1931 downturn. This meaning comes from Ohanian (2009) in Journal of Economic Theory.[1]

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Nearby constructs

nominal2 fields · 2 citationsjingle · one word, two constructs policy2 fields · 4 citationsjingle · one word, two constructs

References

Ohanian, L. E. (2009). What – or who – started the great depression? Journal of Economic Theory, 144(6), 2310-2335. https://doi.org/10.1016/j.jet.2009.10.007

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