Abstract
In July 1981 the Australian Conciliation and Arbitration Commission ended its six-year experiment with acentralised wage indexation system accompanied by restrictive guidelines. Ever since then, if not before, there hasbeen considerable concern about what might be in store for us in this area. Industrial relations professionals have beenunsettled by the sheer uncertainty of the vacuum created by the Commission's departure from the field, and economistshave been left wondering about whether new procedures, whatever and however diverse they may be, will be more orless inflationary than centralised wage indexation.
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