Inflation pp 233-247 | Cite as

Wages and Inflation

  • Jorgen Pedersen
Part of the International Economic Association Series book series (IEA)

Abstract

I shall not go into the logical relationship of wage rates to the other variables in the system of a market economy. This relationship has often been analysed, and I do not think it contains any important controversial point. Rather than repeat what is well known and uncontroversial I intend to discuss some practical questions concerning wages and the control of the monetary system. Before doing this, however, I shall, by way of summary, state the assumptions on which the subsequent reasoning is based ; for brevity only a rise in wages is considered.

Keywords

Corn Depression Europe Income Explosive 

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Notes

  1. 1.
    Cf. Jørgen Pedersen, ‘Forholdet mellen Renten af Laan med kort og lang lobetid’, ѱkonomi og Politik, årgang 1930, pp. 268 ff.Google Scholar
  2. 2.
    For a study of the period in question cf. Wesley C. Mitchell, Business Cycles, New York, 1927, and Jørgen Pedersen, Arbejdslønnen i Danmark,København, 1930.Google Scholar
  3. Jørgen Pedersen, Arbejdslønnen i Danmark,København, 1930.Google Scholar
  4. 1.
    A. J. Brown, The Great Inflation 1939–51, Oxford, 1955, chapter 4, and A. W. Philips, ‘The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957’, Economica,1958.Google Scholar
  5. A. W. Philips, ‘The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957’, Economica,1958.Google Scholar
  6. 2.
    Cf. Bent Hansen and Gösta Rehn, ‘On Wage-Drift: A Problem of Money-Wage Dynamics’, in Twenty-five Economic Essays in Honour of Erik Lindahl,1959.Google Scholar
  7. 2.
    Cf. Bert Zoeteweij: ‘National Wage Policy: The Experience of the Netherlands’, International Labour Review, vol. lxxi, 1955.Google Scholar

Copyright information

© International Economic Association 1962

Authors and Affiliations

  • Jorgen Pedersen
    • 1
  1. 1.University of AarhusDenmark

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