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Whither Wages?
Author(s) -
Hughes B.
Publication year - 1982
Publication title -
asia pacific journal of human resources
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.825
H-Index - 33
eISSN - 1744-7941
pISSN - 1038-4111
DOI - 10.1177/103841118202000108
Subject(s) - conciliation , commission , indexation , wage , arbitration , inflation (cosmology) , economics , field (mathematics) , business , political science , labour economics , law , macroeconomics , monetary policy , physics , mathematics , theoretical physics , pure mathematics
In July 1981 the Australian Conciliation and Arbitration Commission ended its six‐year experiment with a centralised wage indexation system accompanied by restrictive guidelines. Ever since then, if not before, there has been considerable concern about what might be in store for us in this area. Industrial relations professionals have been unsettled by the sheer uncertainty of the vacuum created by the Commission's departure from the field, and economists have been left wondering about whether new procedures, whatever and however diverse they may be, will be more or less inflationary than centralised wage indexation.