APRIL 14, 2026
Even when the economy falters, wages hold up – and it's no accident. This is what a recent study conducted by a team of economists shows, revealing a key factor: employees' discretion.
Fongoni, M., Schaefer, D., Singleton, C. (2024). "Why Wages Don’t Fall in Jobs with Incomplete Contracts". Management Science. 71(8):6319-6339.
