TC: “Is the Stiglitz-Shapiro 1984 efficiency wage model actually a model of sticky wages, or not? Is either the real or nominal wage sticky in that model?” Claude: The Stiglitz-Shapiro efficiency wage model from 1984 is not primarily a model of sticky wages, although it can have implications for wage stickiness. Let’s break this down: Core concept of […] The post Claude Sonnet 3.5, economist appeared first on Marginal REVOLUTION.
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