Contract length, wage indexation, andex ante variability of real wages

1987 ◽  
Vol 8 (3) ◽  
pp. 221-236 ◽  
Author(s):  
Wallace E. Hendricks ◽  
Lawrence M. Kahn
Keyword(s):  
Real Wages ◽  
Contract Length ◽  
Wage Indexation

Wage indexation and the Israeli labor market: the institutional imperative

1986 ◽  
Vol 18 (3) ◽  
pp. 259-273 ◽  
Author(s):  
Jonas Prager
Keyword(s):  
Political Institutions ◽  
Middle Eastern ◽  
Wage Earner ◽  
Jewish State ◽  
Real Wages ◽  
The West ◽  
Laboring Class ◽  
The Subject ◽  
Wage Indexation ◽  
Oil Wealth

Israel is a nation replete with contradictions; its economics, politics, and sociology often defy understanding. This Jewish state, located on the periphery of the Moslem world, has few natural resources of its own, while its neighbors to the south and east enjoy the benefits of oil wealth. It is geographically Middle Eastern, yet politically finds itself considered European. Its population is predominantly Asian and African, yet its political institutions and leadership, civilization, and national cultural figures are rooted in the West. Another contradiction, less obvious but no less puzzling, provides the subject of this article. In typical periods of inflation, real wages are eroded and the laboring class suffers from a reduction in its purchasing power. Yet in the inflationary economy characteristic of most of Israel's existence, the wage-earner has managed to escape the harm threatened by the ever-diminishing value of the currency. The ostensible explanation—indexed wage contracts— appear to be inadequate, for such agreements never provided full de jure coverage against inflationary erosion.

The Firm, Wage Indexation, and Nominal Wage Rigidity

2016 ◽  
Author(s):  
James M. Holmes ◽  
John M. Holmes ◽  
Patricia A. Hutton
Keyword(s):  
Wage Rigidity ◽  
Nominal Wage ◽  
Wage Indexation ◽  
Nominal Wage Rigidity

The Economic and Social Background to the Consumer Durables Revolution

2017 ◽  
Author(s):  
Peter Scott
Keyword(s):  
Durable Goods ◽  
Consumer Credit ◽  
Social Background ◽  
Living Standards ◽  
Consumer Expenditure ◽  
Household Demand ◽  
Fertility Rates ◽  
Real Wages ◽  
Consumer Durables ◽  
Technological Improvements

By 1939 rising living standards provided access to an array of durable goods that many people regarded as necessities, but would have been beyond the dreams of their parents twenty-five years earlier. Rising real wages, falling fertility rates, and an expansion and liberalization of consumer credit, collectively made affordable goods that cost several weeks’, months’, or (in the case of housing) years’ income. This chapter examines these trends and then discusses their impacts on household demand for durable goods. For most durables, demand is shown to have risen substantially faster than incomes, producing a major rise in their share of total consumer expenditure. This was partly driven by technological improvements, though successful marketing (both of the goods and the consumer credit that made them affordable) also played a key role.

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