By John Burton (auth.)

Show description

Read or Download Wage Inflation PDF

Best money & monetary policy books

Developing Government Bond Markets: A Handbook

This guide offers an outline of the key coverage concerns for constructing a central authority securities industry. It additionally deals an in depth description of the coverage matters, together with concerns for implementation. This instruction manual covers such themes because the linkages with cash markets and fiscal coverage operations, rules had to boost an issuing technique, debt-management issues to construct credibility, and the reforms essential to advertise institutional funding.

A Program For Monetary Stability

Booklet by way of Friedman, Milton

Marx on money

The republication of Suzanne de Brunhoff’s vintage research into Karl Marx’s perception of “the funds commodity” shines gentle on commodities and their fetishism. The research of cash because the crystallization of price in its fabric experience is primary to how we comprehend capitalism and the way it may be abolished.

The Social Origins of Human Rights: Protesting Political Violence in Colombia’s Oil Capital, 1919–2010

Human rights activism is frequently linked to foreign agencies that attempt to impact the habit of abusive states all over the world. In Barrancabermeja, Colombia, argues Luis van Isschot within the Social foundation of Human Rights, the fight for rights has emerged extra organically and in the community, out of a protracted historical past of civil and social organizing.

Extra info for Wage Inflation

Example text

Wage rates plus certain other localised payments such as bonuses of various kinds), and series relating to 'wages' in manufacturing or some wider (or narrower) section of the economy. Then even the concept of 'rate of change' (of wages) may be measured in different ways. Similarly the notion of 'excess demand' may be measured in a multitude of manners - as may all other possible determinants of Ll W. As if this is not enough, there are the differences that arise from the selection of dissimilar periods over which to measure variables (quarterly, biannually or annually), by making different timing alignments between them using different lags, and by testing over diverse historical periods.

E. 'search') will consequently fall (while the duration of vacancies grows), and wage aspirations will rise. Similarly, currently employed workers, noticing these trends, may engage in either 'on the job' or 'off the job' search for better-paying employment.

Thus the 'Hines hypothesis' is that: tJWt=f(tJTt, T t) (13) where tJ T t = the rate of change of unionisation in period t and T t = the level of unionisation that exists in period t. K. presents strong statistical support for this hypothesis, especially for the years 1921 to 1961 during which the estimated version of equation (13) is able to predict roughly 90 per cent of the variation that occurred in the average wage 55 rate. An obvious question that must be answered, before this fairly amazing result can be accepted as substantive corroboration of the existence of a cost-push process, is: what determines the rate of change of unionisation?

Download PDF sample

Rated 4.84 of 5 – based on 10 votes