Peter McCrory

@peter-mccrory.bsky.social

Staff economist / Labor Research at LinkedIn. Views are my own. Website: https://peter-mccrory.github.io/

Recent work by Stefanie Stantcheva confirms an old argument by Robert Shiller: people don't think of wage rises and price increases as part of a common process, they attribute wages to their own efforts and prices as an external imposition. No doubt linked to downward nominal wage rigidity

Peter Ganong@ganong.bsky.social · 2y ago

Alright here’s my first attempt at using #econsky for actual questions… I have seen the claim below in other places (eg ezra Klein). What econ research, if any, provides evidence for this claim? Not now, just the idea in general that attribution works differently for wage increases and inflation?