The Experts below are selected from a list of 141 Experts worldwide ranked by ideXlab platform
Laurence S. Seidman - One of the best experts on this subject based on the ideXlab platform.
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The Role of a Tax-Based Incomes Policy
The American Economic Review, 2016Co-Authors: Laurence S. SeidmanAbstract:A tax-based Incomes Policy (TIP) is an innovative approach to the inflation-unemployment dilemma. First proposed by Sidney Weintraub and Henry Wallich, a TIP has recently begun to receive serious attention from economists (see Weintraub and Wallich, and Arthur Okun and George Perry). A TIP would provide a tax incentive for the employer, and/or employees, at each firm to reduce the size of the firm's wage increase. Elsewhere (1978a) I have examined the issues bearing on the optimal design of a TIP. In this paper, I will attempt to clarify the role of TIP by focusing on two important aspects: 1) the micro-economic rationale for TIP and 2) the compatibility of TIP with the monetary view of inflation.
Ian P. Hare - One of the best experts on this subject based on the ideXlab platform.
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A tax-based Incomes Policy that removes sectoral labour market imbalances
Social Science Research Network, 2003Co-Authors: Ian P. HareAbstract:A modified version of a tax-based Incomes Policy (TIP) incentive tax is proposed that retains the aggregate wage-restraining effect of the tax proposed by Jackman and Layard, but in addition should help to speed the elimination of unemployment that results from the slow response of relative wages to sectoral labour surpluses or shortages. This effect is illustrated using a two-sector model with downwardly inflexible nominal wages.
Peter Ackers - One of the best experts on this subject based on the ideXlab platform.
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free collective bargaining and Incomes Policy learning from barbara wootton and hugh clegg on post war british industrial relations and wage inequality
Industrial Relations Journal, 2016Co-Authors: Peter AckersAbstract:Growing income inequality has returned as a major political issue in affluent, advanced economies, often associated directly with the decline of trade unions and collective bargaining. In Policy terms, this has been reflected in the British campaign for a ‘Living Wage’ and the new German minimum wage. Yet on the broader front, Industrial Relations (IR) struggles to find a credible regulatory strategy to address inequality—one that combines state and civil society initiatives and can be legitimised in political philosophy. This History and Policy article argues that there is much to learn from the IR past, before neo-liberalism. My focus is the writing of Barbara Wootton and Hugh Clegg on ‘Incomes Policy’, from the 1950s to the early 1980s, when this was a central intellectual and Policy issue in British IR. I explore the differing justifications for Incomes Policy, from corporatist macro-economic management to social equality, comparing and contrasting the democratic socialist political principles of Wootton with Clegg's social democratic pluralism. The conclusion relates this historical debate between state pattern and civil society process to current concerns about how social democratic ideas and IR Policy can address the problem of labour market inequality.
Paolo Sestito - One of the best experts on this subject based on the ideXlab platform.
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results and problems of five years of Incomes Policy an initial quantitative evaluation
1998Co-Authors: Silvia Fabiani, Alberto Locarno, Gian Paolo Oneto, Paolo SestitoAbstract:What role was played by the Incomes Policy launched in 1992-93? Part of a new “culture of stability” or factor distorting the adjustment process? This paper makes an initial evaluation of the effects of the reform of the wage-bargaining system on the link between wages and prices, on the costs of disinflation and on the non-accelerating-inflation rate of unemployment (NAIRU). The lesser reactivity of nominal wages appears to have reduced the overall magnitude of the response of the price system to nominal shocks, whose effects were prolonged, with wider fluctuations in real wages. Counterfactual simulations confirm the importance of Incomes Policy in curbing the inflationary pressures: in its absence, inflation would have been between 2 and 3 percentage points higher in 1996. Achieving the inflation rates that were reached in the period in question through monetary Policy action alone would have been much costlier and would have imperiled the process of fiscal consolidation. The effects on the determinants of the NAIRU appear less significant instead, although in assessing this result account it is necessary to consider that the new bargaining system has yet to find a definitive configuration.
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nairu Incomes Policy and inflation
1997Co-Authors: Silvia Fabiani, Alberto Locarno, Gian Paolo Oneto, Paolo SestitoAbstract:Italy has been one of the few industrial countries resorting to Incomes Policy in the current decade. Many Italian observers have attributed to this Policy the remarkable slowdown in wage and price inflation. However, no apparent progress has been made concerning labour market unbalances, as the unemployment rate remains 4 percentage points above the already high level inherited from the 80s.This paper analyses this experience: it looks at the evidence of changes in the bargaining structure stemming from the Incomes policies agreements, discusses their possible long run impact in terms of NAIRU and features of the inflationary process, presents a quantitative assessment of the specific contribution of those agreements to the inflation outcome. The analysis is carried out by looking at the presence of structural breaks in an aggregate-wage equation and resorting to counterfactual simulations of a large macroeconomic model (the Bank of Italy quarterly model). The empirical results ...
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NAIRU: Incomes Policy and Inflation
OECD Economics Department Working Papers, 1997Co-Authors: Silvia Fabiani, Alberto Locarno, Gian Paolo Oneto, Paolo SestitoAbstract:Italy has been one of the few industrial countries resorting to Incomes Policy in the current decade. Many Italian observers have attributed to this Policy the remarkable slowdown in wage and price inflation. However, no apparent progress has been made concerning labour market unbalances, as the unemployment rate remains 4 percentage points above the already high level inherited from the 80s. This paper analyses this experience: it looks at the evidence of changes in the bargaining structure stemming from the Incomes policies agreements, discusses their possible long run impact in terms of NAIRU and features of the inflationary process, presents a quantitative assessment of the specific contribution of those agreements to the inflation outcome. The analysis is carried out by looking at the presence of structural breaks in an aggregate-wage equation and resorting to counterfactual simulations of a large macroeconomic model (the Bank of Italy quarterly model). The empirical results ... L’Italie a été l’un de rares pays à recourir à une politique des revenus pendant cette décennie. De nombreux observateurs italiens ont attribué à cette politique le remarquable ralentissement de l’inflation des salaire et des prix. Toutefois, aucun progrès apparent n’a été réalisé concernant les déséquilibres du marché du travail, le taux de chômage restant 4 points plus haut que son niveau déjà élevé des années 80. Cet article analyse cette expérience: il examine les effets du changement de l’organisation des négociations salariales lié aux accords de politiques des revenus, discute leurs éventuelles conséquences à long terme sur le NAIRU et les caractéristiques du processus d’inflation et fournit une évaluation quantitative de la contribution de ces accords sur les performances d’inflation. L’analyse est effectuée à partir d’une recherche des ruptures structurelles de l’équation de salaire à un niveau agrégé et de simulations à l’aide d’un modèle macro-économique de grande taille ...
Hannu Tanninen - One of the best experts on this subject based on the ideXlab platform.
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finnish Incomes Policy as corporatist political exchange development of social capital and the social wage
Transfer: European Review of Labour and Research, 2011Co-Authors: Jaakko Kiander, Pekka Sauramo, Hannu TanninenAbstract:This article deals with Finnish Incomes Policy as a special type of political exchange between the social partners and the government. The continuity of this political exchange requires a common ground of values and trust. In the article, these prerequisites are characterized in terms of the concept of social capital. The article also emphasizes the importance of centrally negotiated Incomes Policy agreements as an important institutional framework within which the Finnish welfare state has evolved. Owing to the traditionally close relationship between centrally negotiated Incomes Policy agreements and welfare reforms, the end of centrally negotiated Incomes Policy agreements declared by one social partner – namely, the Confederation of Finnish Industries – is likely to affect not only the manner in which wages are negotiated in the future but also the tradition of political exchange between the social partners and the government.Cet article traite de la politique finlandaise des revenus comme d’un type p...
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Finnish Incomes Policy as corporatist political exchange: development of social capital and the social wage
Transfer: European Review of Labour and Research, 2011Co-Authors: Jaakko Kiander, Pekka Sauramo, Hannu TanninenAbstract:This article deals with Finnish Incomes Policy as a special type of political exchange between the social partners and the government. The continuity of this political exchange requires a common ground of values and trust. In the article, these prerequisites are characterized in terms of the concept of social capital. The article also emphasizes the importance of centrally negotiated Incomes Policy agreements as an important institutional framework within which the Finnish welfare state has evolved. Owing to the traditionally close relationship between centrally negotiated Incomes Policy agreements and welfare reforms, the end of centrally negotiated Incomes Policy agreements declared by one social partner – namely, the Confederation of Finnish Industries – is likely to affect not only the manner in which wages are negotiated in the future but also the tradition of political exchange between the social partners and the government. Cet article traite de la politique finlandaise des revenus comme d’un type particulier d’échange politique entre les partenaires sociaux et le gouvernement. La continuité de cet échange politique requiert une base commune de valeurs et de confiance. Dans cet article, ces conditions préalables sont caractérisées en recourant au concept de capital social. L'article souligne également l’importance de la négociation centralisée des accords sur la politique des revenus, en tant que cadre institutionnel important dans lequel se poursuit l’évolution de l’État-providence finlandais. En raison de la relation traditionnellement étroite entre les accords de politique des revenus issus d'une négociation centralisée, d’une part, et les réformes de l’État-providence, d’autre part, la fin de ces accords de politique des revenus issus d’une négociation centralisée, proclamée par un partenaire social – la Confédération des industries finlandaises –, devait affecter non seulement la manière dont les salaires seront négociés dans l’avenir, mais aussi la tradition de l’échange politique entre partenaires sociaux et gouvernement. Der vorliegende Beitrag befasst sich mit der finnischen Lohn- und Gehaltspolitik, die auf einer besonderen Form des politischen Austausches zwischen den Sozialpartnern und der Regierung beruht. Die Konti-nuität dieses politischen Austausches setzt eine Basis gemeinsamer Werte und des Vertrauens voraus, die wir als “Sozialkapital” bezeichnen. Ferner wird darauf hingewiesen, dass die zentral ausgehandelten Abkommen über die Lohn- und Gehaltspolitik einen wichtigen institutionellen Rahmen bilden, in dem sich der finnische Wohlfahrtsstaat entwickelt hat. Traditionell besteht in Finnland eine enge Beziehung zwischen zentral ausgehandelten Lohnabkommen und sozialen Reformen. Die Erklärung eines Sozialpartners – des finnischen Arbeitgeberverbands – keine zentralen Lohnabkommen mehr auszuhandeln, wird somit nicht nur einen Einfluss auf die Lohnverhandlungsmodalitäten haben, sondern auch auf die Tradition des politischen Austausches zwischen den Sozialpartnern und der Regierung.
