Incomes Policy and Wage Inflation: Empirical Evidence for the UK 1961-1977

S. G. B. Henry · Paul Ormerod

30 citations0/0 files storedNational Institute Economic Review

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Monetary Policy and Economic Impact Labor market dynamics and wage inequality Economic Theory and Policy

Abstract

Various kinds of incomes policies have been in operation in the UK over a substantial part of the post-war period, particularly since the mid-1960s. There is considerable uncertainty about the effects of incomes policy on the rate of change of wages, and in this paper we attempt to assess the effects of incomes policy using econometric equations of wage inflation.

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1985Wage Inflation in the United Kingdom 1981Sargan's wage equation: A theoretical and empirical reconstruction 1984The sociopolitical analysis of inflation 1984Incomes Policy in a Political Environment: a Structural Model for the U.K. 1961–1980 1983THE REAPPEARING PHILLIPS CURVE 2014The Australian Accord from an international perspective

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