Why do wages resist crises?

Dialogues économiques
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.
Member(s)
Marco Fongoni, Raphael Casteu
Reference
Fongoni, M., Schaefer, D., Singleton, C. (2024). "Why Wages Don’t Fall in Jobs with Incomplete Contracts". Management Science. 71(8):6319-6339.
Read the article on
https://www.dialogueseconomiques.fr/article/pourquoi-les-salaires-resistent-ils-aux-crises

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