Wage determination and incomes policy in open economies /

This volume deals with the nature of wage determination and the problem of securing an economically appropriate development of money incomes in an open economy over the medium term.

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Bibliographic Details
Main Author: Braun, Anne Romanis (Author)
Format: eBook
Published: Washington, D.C. : International Monetary Fund, 1986.
Online Access:CONNECT
Table of Contents:
  • Contents
  • Preface
  • Part I.A Survey of the Use of Incomes Policy Since World War II
  • 1 What Incomes Policy Is a n d When It Has Been Used
  • 2 Incomes Policy Under Full Employment Policies and Fixed Exchange Rates
  • Policies of the Late 1940s and Early 1950s
  • Policies of the Early 1960s
  • Policies of the Late 1960s and Early 1970s
  • Strengthening International Transmission of Inflation from 1945 to 1973
  • Opposing Views of the Need for Incomes Policy
  • Results of Incomes Policies Under Fixed Exchange Rates
  • 3 Incomes Policy After the Inflationary Crisis of 1973New Setting for Incomes Policy
  • Demand Policies and Recourse to Incomes Policy Measures
  • The Problem of Stabilization in an Open Economy
  • The Role of Incomes Policy
  • Part II. The Scope for Incomes Policy in Theory and Practice
  • 4 Incomes Policy Under Fixed Exchange Rates in the 1960s
  • The Process of Cost Inflation
  • Effectiveness of Aggregate Demand Policy in Countering Cost Inflation
  • Factors Influencing Cost Inflation in Particular Countries
  • The Scope for Incomes Policy in the Mid-1960s
  • 5 The Changed Context for Incomes Policy in the 1970sStrengthening Tendencies to Inflation During the 1960s
  • The Industrial Countries as a Closed Economy
  • National Experience of Increasing Inflationary Pressure, 1968-70
  • Consequences of Delayed Adjustment of Exchange Rates
  • Legacy of the Early 1970s
  • 6 Incomes Policy and Economic Theory
  • The Monetarist Counterrevolution and Theory of Unemployment
  • The Monetarist View of the Economy
  • An Alternative View: Discontinuous Adjustment Under Imperfect Competition
  • Need for a More Realistic Theoretical FrameworkRelation Between Unemployment and Inflation in a Closed Economy
  • 7 Demand Expansion, Inflation, and Real Output Growth Under Imperfect Competition
  • Unsymmetrical Response to Acceleration or Deceleration of Demand
  • Differing Response to Marked or Gradual Changes in Demand
  • Productivity Growth and the Level of Employment
  • 8 Indexation of Wages: A Monetarist Prescription
  • Wage Bargaining and Indexation
  • Case for Indexation in the Early 1970s
  • Characteristics of Wages Indexation in Practice
  • Experience with Indexation in Selected CountriesThe Case For and Against Indexation
  • Part III. Wage Bargaining Institutions, Incomes Policy, and Demand Management Since the 1960s
  • 9 Case Studies of Four Large Economies United Kingdom: Incomes Policies of the 1970s
  • United Kingdom: Incomes Policies of the 1970s
  • Japan and the Federal Republic of Germany: Wage Bargaining Systems
  • Canada: The Anti-Inflation Program of 1975'78
  • 1O Case Studies of Three Small Economies
  • Austria: The Social Partnership