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Nominal Wage Rigidities and the Future Path of Wage Growth

Author

Listed:
  • Jose Mustre-del-Rio
  • Emily Pollard

Abstract

Wage growth has been modest since the end of the Great Recession, puzzling many market observers and policymakers. Article examines the relationship between wage growth and nominal wage rigidities?the share of workers whose wages have not changed?and find the current pace of wage growth is not historically unusual. The results suggest wage growth may continue on its gradual path as long as the incidence of wage rigidities remains elevated.

Suggested Citation

  • Jose Mustre-del-Rio & Emily Pollard, 2018. "Nominal Wage Rigidities and the Future Path of Wage Growth," Macro Bulletin, Federal Reserve Bank of Kansas City, issue May 10, 2, pages 1-4, May.
    • Handle: RePEc:fip:fedkmb:00065
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    File URL: https://www.kansascityfed.org/documents/571/macrobulletins-Nominal%20Wage%20Rigidities%20and%20the%20Future%20Path%20of%20Wage%20Growth.pdf
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    More about this item

    Keywords

    Wage Growth; Wages; Nominal Wage Rigidities;
    All these keywords.

    JEL classification:

    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J39 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Other

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