Abstract
Giancarlo Mazzocchi gave important scientific contributions in the field of anti-inflationary policies. In particular he stressed the important role of incomes policy in keeping cost pressure under control. He also stressed the necessity of combining incomes policies with other instruments of economic policy, such as measures directed to improve the functioning of product and labour markets. More competitive product markets and more flexible labour markets are necessary conditions for an incomes policy to be successful. He then analysed the different methods of linking wages to productivity in a dynamic environment and he showed how a «norm» of uniform wage increases can compress wage differentials and produce negative effects on labour mobility.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
