文章基本信息

标题：The "Puzzle" of Wage Moderation in the 1980s
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作者：Pierre Poret
期刊名称：Economics Department Working Papers / OECD
印刷版ISSN：0259-4633
出版年度：1990
卷号：1990
DOI：10.1787/746401378560
出版社：Organisation for Economic Co-operation and Development (OECD)
摘要：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 ...