Answers are grounded in this paper and cite their sources.
This study estimates wage equations with data disaggregated by occupation and union status, and it derives two measures of wage rigidity for each group of workers: the sensitivity of wages to unemployment and the speed with which wages respond to price inflation. The sensitivity of wages to an aggregate measure of unemployment was found to depend negatively on an occupation's skill level. In addition, union wages were more sensitive to unemployment than non‐union wages and responded less rapidly to price inflation.
No takes yet. Share an insight, caveat, or question.
Carl M. Campbell (1997) studied this question.
Synapse has enriched 10 related papers. Consider them for comparative context: