Can Wages Be Universally Indexed?

Paul Davidson

Chapter 10 in International Money and the Real World, 1992, pp 187-202 from Palgrave Macmillan

Abstract: Abstract Those who advocate universal indexing of money-wage contracts are implying that, by contract, money wages can be made sticky in terms of some commodity standard. If it is feasible to have universal indexing of money wages, then the question still remains as to which commodity standard should wages be geared to, e.g., an international commodity market basket or a domestic commodity standard. What would be the operational effects of such a legal modification of the existing law of money contracts on the operation of an entrepreneur economy?

Keywords: Real Income; Producible Commodity; Market Basket; Efficiency Wage; Income Policy (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1057/9780230378094_10

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