Australian Experiments in Wage Policy |
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Authors: | Keith Hancock and J E Isaac |
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Institution: | Adelaide.;Monash University and the University of Melbourne. |
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Abstract: | Industrial conciliation and arbitration have been pivotal in pay determination in Australia throughout the twentieth century. This paper examines how these institutions influence macroeconomic performance, paying special reference to their impact on cost inflation. It goes on to evaluate the contribution of the Accord (incomes policy) in the last decade. Consensus and participation within the institutional framework are shown to be essential for effective wage policy. |
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