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Classical Unemployment, Accommodation Policies and the Adjustment of Real Wages
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1984 (English)Report (Other academic)
Abstract [en]

The paper develops a model of wage formation and stabilization policy in economies with centralized wage setting and strong trade unions. The aim is to explain the present stagflation with heavy unemployment and large government deficits. The analysis gives a theoretical underpinning to the assertion that accommodation policies may cause wage inflation and in the end reduce employment. Various methods of accomplishing a real wage adjustment are discussed: (1) a policy of complete non-accommodation; (2) continued accommodation policies but with lower employment targets; (3) social contracts; and (4) tax-based incomes policies (TIP).

Place, publisher, year, edition, pages
Stockholm: IIES , 1984. , 44 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 270
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41236OAI: oai:DiVA.org:su-41236DiVA: diva2:329161
Available from: 2010-07-09 Created: 2010-07-08 Last updated: 2010-07-09Bibliographically approved

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
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  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf