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Cost-of-Living Escalators and Price-Wage Linkages in the U.S. Economy, 1968–1980

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  • Wayne Vroman

Abstract

This paper examines the importance of cost-of-living escalator clauses as a link between price changes and money wage changes. It surveys the possible kinds of price-wage linkages and estimates the importance of COLAs in overall wage changes in the economy. The author concludes that despite growth in the coverage and yields of escalator clauses since the mid-1960s, they still accounted in 1980 for less than 10 percent of total money wage changes in the U.S. economy and are therefore not a major cause of inflation.

Suggested Citation

  • Wayne Vroman, 1985. "Cost-of-Living Escalators and Price-Wage Linkages in the U.S. Economy, 1968–1980," ILR Review, Cornell University, ILR School, vol. 38(2), pages 225-235, January.
    • Handle: RePEc:sae:ilrrev:v:38:y:1985:i:2:p:225-235
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    Cited by:

    1. Liam Graham & Dennis J. Snower, 2008. "Hyperbolic Discounting and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(2-3), pages 427-448, March.

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