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A higher inflation rate can make it easier for relative wages to adjust.
He did, to be sure, reject the notion that all it takes for capitalism to right itself is a fire sale of assets (shares, property, bonds) and for wages to adjust ever downwards.
Fresh meat Over a barrel Another one for the in-tray And finally The world's game, not England's Job: British economics and business ReprintsBritain's flexible labour market allows wages to adjust easily to changes in the supply of, and demand for, labour.
Together with high unemployment, lower public sector wages put pressure on private sector wages to adjust, though by how much is a matter of some disagreement.
It also makes it harder for real wages to adjust, since workers rarely get cuts in nominal pay.
Similar(55)
Oregon has a steady track record of raising its minimum wage to adjust for inflation.
fixing the minimum wage to adjust for lost value and index it to inflation.
Therefore, as indicated in Section 3.2, we applied in a first step a typical Mincerian wage regression to adjust wage heterogeneity for individual human capital and job-specific characteristics.
This can be achieved by having nominal wages fall while the exchange rate is unchanged (call it plan A), or by having wages fail to adjust to the inflationary effects of a devaluation (plan B).
If prices and wages fail to adjust, stagnation can result, and this in turn increases the economy's financial fragility.
Prices and wages start to adjust due to the disequilibria in goods and labor markets.
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CEO of Professional Science Editing for Scientists @ prosciediting.com