The Problem of Indexation

John Williamson

Chapter 2 in Incomes Policies, 1989, pp 22-35 from Palgrave Macmillan

Abstract: Abstract The title assigned to me presupposes that indexation is a problem rather than a solution, as it was portrayed in a substantial literature of about a decade ago (notably Fishlow, 1974; Friedman, 1974; Jackman and Klappholz, 1975). Either characterisation is excessively simplistic without qualification. Dangerous as indexation has often been, I shall argue that there are circumstances under which appropriate forms of indexation might have a useful role to play as one element of an incomes policy.

Keywords: Real Wage; Money Supply; Real Income; Relative Prex; Excess Supply (search for similar items in EconPapers)
Date: 1989
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DOI: 10.1007/978-1-349-20381-9_2

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