Balance-of-Payments Management and Incomes Policy

Luis Angel Rojo
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Luis Angel Rojo: Bank of Spain

Chapter 4 in Incomes Policies, 1989, pp 65-83 from Palgrave Macmillan

Abstract: Abstract The meaning of incomes policies has varied significantly with the economic conditions over the last 25 years. It has been stated that the incomes policies implemented in the 1960s were of a prevailingly nominal nature, that is, they tended to restrain the trend of nominal wages and absolute prices, whereas the incomes policies undertaken in the 1970s were of a real nature, that is, they attempted to hold back or reduce real wages and to affect the structure of relative prices in order to improve the profitability and competitiveness of their respective economies, and thus to encourage investment, employment and balance-of-payments adjustment.1

Keywords: Exchange Rate; Real Exchange Rate; Real Wage; Nominal Wage; Nominal Exchange Rate (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-20381-9_4

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DOI: 10.1007/978-1-349-20381-9_4

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