Abstract
In this chapter we consider the forces that determine the rate of increase in the level of money wages or wage inflation. This is a topic of long-standing interest to both labour economist and macroeconomists alike and we begin this chapter by reviewing the important early work of Phillips (1958) which to this day still occupies a pivotal role in the literature. After discussing this model we move on to consider a range of more recent developments regarding the determinants of the rate of wage inflation.
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© 1993 David Sapsford and Zafiris Tzannatos
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Sapsford, D., Tzannatos, Z. (1993). Wage Inflation. In: The Economics of the Labour Market. Texts in Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-22825-6_13
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DOI: https://doi.org/10.1007/978-1-349-22825-6_13
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-53496-0
Online ISBN: 978-1-349-22825-6
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