The "Puzzle" of Wage Moderation in the 1980s:
In the 1980s, real consumption wages fell relative to labour efficiency in OECD countries, although there has been some pressure on wages recently. The persistent moderation of wages was due to labour-market slack, as well as rising non-wage labour costs and slower increases in output prices relativ...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
1990
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | In the 1980s, real consumption wages fell relative to labour efficiency in OECD countries, although there has been some pressure on wages recently. The persistent moderation of wages was due to labour-market slack, as well as rising non-wage labour costs and slower increases in output prices relative to consumer prices in some countries. It does not appear to reflect changes in wage behaviour. The analysis of time-series properties suggests that, typically, wages do not fully catch up to past losses. There is, furthermore, no strong evidence for instability of well-specified wage equations with the exception of France where stringent monetary policy since 1983 may have modified the formation of expectations ... |
| Beschreibung: | 1 Online-Ressource (55 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/746401378560 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:05Z |
| indexdate | 2024-12-18T19:04:37Z |
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| language | English |
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| spelling | Poret, Pierre Verfasser aut The "Puzzle" of Wage Moderation in the 1980s Pierre Poret Paris OECD Publishing 1990 1 Online-Ressource (55 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers In the 1980s, real consumption wages fell relative to labour efficiency in OECD countries, although there has been some pressure on wages recently. The persistent moderation of wages was due to labour-market slack, as well as rising non-wage labour costs and slower increases in output prices relative to consumer prices in some countries. It does not appear to reflect changes in wage behaviour. The analysis of time-series properties suggests that, typically, wages do not fully catch up to past losses. There is, furthermore, no strong evidence for instability of well-specified wage equations with the exception of France where stringent monetary policy since 1983 may have modified the formation of expectations ... Economics https://doi.org/10.1787/746401378560 Verlag kostenfrei Volltext |
| spellingShingle | Poret, Pierre The "Puzzle" of Wage Moderation in the 1980s Economics |
| title | The "Puzzle" of Wage Moderation in the 1980s |
| title_auth | The "Puzzle" of Wage Moderation in the 1980s |
| title_exact_search | The "Puzzle" of Wage Moderation in the 1980s |
| title_exact_search_txtP | The "Puzzle" of Wage Moderation in the 1980s |
| title_full | The "Puzzle" of Wage Moderation in the 1980s Pierre Poret |
| title_fullStr | The "Puzzle" of Wage Moderation in the 1980s Pierre Poret |
| title_full_unstemmed | The "Puzzle" of Wage Moderation in the 1980s Pierre Poret |
| title_short | The "Puzzle" of Wage Moderation in the 1980s |
| title_sort | the puzzle of wage moderation in the 1980s |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/746401378560 |
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