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  • Julio J. Rotemberg, International Volatility and Economic Growth: The First Ten Years of The International Seminar on Macroeconomics (Elsevier Science Publishers B.V., 1991), chap. 1, https://www.nber.org/books-and-chapters/international-volatility-and-economic-growth-first-ten-years-international-seminar-macroeconomics/international-adjustment-wage-rigidity.

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Two of the puzzling macroeconomic phenomena of the 1970s have been the persistent stagnation in Europe, and the...

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