Wage Adjustments and Labour Market Systems: A Cross‐Country Analysis

Glenn Withers (), D. Pitman and B. Whittingham

The Economic Record, 1986, vol. 62, issue 4, 415-426

Abstract: Evidence is presented on how well alternative systems of wage determination facilitate disaggregate labour market adjustment. Tests of statistical causality are used to relate labour market pressure to relative wage changes. The conclusion is that rates of change of relative wages are determined independently of the microeconomic market balance. This result holds irrespective of the institutional form of the wage‐fixing system.

Date: 1986
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