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The Impact of Incomes Policy on Aggregate Wage Determination in Australia

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  • Lewis, Philip E T
  • Kirby, Michael G

Abstract

A theoretical model of wage determination, which includes several channels of incomes policy effects, is speci fied and estimated using aggregate data. The results provide strong e vidence to support the view that during periods of certain incomes po licies there have been important changes in behavior in the Australia n labor market. During the period of the Prices and Incomes Accord it is estimated that equilibrium real wages were over 5 percent below t hat would have been expected from previous experience. Copyright 1987 by The Economic Society of Australia.

Suggested Citation

  • Lewis, Philip E T & Kirby, Michael G, 1987. "The Impact of Incomes Policy on Aggregate Wage Determination in Australia," The Economic Record, The Economic Society of Australia, vol. 63(181), pages 156-161, June.
    • Handle: RePEc:bla:ecorec:v:63:y:1987:i:181:p:156-61
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    Cited by:

    1. K.F. Wallis, 1992. "On Macroeconomic Policy and Macroeconomic Modeling," Economics Discussion / Working Papers 92-04, The University of Western Australia, Department of Economics.
    2. PHILIP E.T. LEWIS & GARRY A. MacDONALD, 1993. "Testing for Equilibrium in the Australian Wage Equation," The Economic Record, The Economic Society of Australia, vol. 69(3), pages 295-304, September.
    3. Akhand Akhtar Hossain, 2008. "Rural Labour Market Developments, Agricultural Productivity, and Real Wages in Bangladesh, 1950–2006," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 47(1), pages 89-114.
    4. Kenneth F. Wallis, 1993. "On Macroeconomic Policy and Macroeconometric Models," The Economic Record, The Economic Society of Australia, vol. 69(2), pages 113-130, June.
    5. Chapman BJ. & Gruen F., 1990. "Analysis of the Australian consensual incomes policy: the prices and incomes accord," ILO Working Papers 992754563402676, International Labour Organization.
    6. John Freebairn, 1995. "Reconsidering the Marginal Welfare Cost of Taxation," The Economic Record, The Economic Society of Australia, vol. 71(2), pages 121-131, June.
    7. repec:ilo:ilowps:275456 is not listed on IDEAS
    8. Bruce J. Chapman, 1988. "Some Observations on Wage-Setting Practices in The Australian Labour Market System," Australian Journal of Management, Australian School of Business, vol. 13(2), pages 161-175, December.

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