On balance, however, these studies do not support a significant employment impact.27  21  Fortin (1996), Akerlof, Dickens and Perry (1996), Fortin, Akerlof, Dickens and Perry (2002). 22  Tobin (1972). 23  Thiessen (1996). 24  See Technical Background Document 1 from the renewal of the inflation-control target (May 2001). This can be found at http://www.bankofcanada.ca/en/press/annexe1.pdf.
25  Crawford (2001), Crawford and Wright (2001). 26  In addition, there are few small wage changes (up or down) in the data. 27  Simpson, Cameron and Hum (1998) find relatively large effects, but Farès and Hogan (2000) and Faruqui (2000) show that, once their model is adjusted for possible endogeneity between wage freezes and output growth, the impact is insignificant.