Inflation and wage indexation in the postwar United States

Article Abstract:

Inflation and wage indexation relationships in the US after World War II is analyzed via data on the increasing number of cost-of-living adjustments sought in collective bargaining agreements. The increase in inflation for postwar US occurred earlier than the surge in wage indexation. The effects of wage indexation on inflation cannot be established, but wage indexation can decrease both the cost and benefits of inflation. Increased indexation is perceived to reduce the benefits of employment, and the effects of wage indexation on inflation incentives are likely to be less than the effects of other indexation types.

United States, Analysis, Economic research, United States economic conditions, Indexation (Economics)

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Is public spending determined by voter choice or fiscal capacity?

Article Abstract:

Data from 50 countries during 1970, 1975, and 1980 are used to determine whether or not voter choice or fiscal capacity determines government expenditures. Aside from individual specifications, a regime-switching model including both determinants is estimated and found to be the most acceptable. Voter-choice was found to be effective in 17 countries, whereas in another 22 nations of intermediate development, fiscal capacity determined public spending.

Models, Political aspects, Government spending policy, Fiscal policy, Expenditures, Public, Public expenditures

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Inflationary expectations and price setting behavior

Article Abstract:

A study was conducted to examine the impact of expectations in disaggregate price conditions, The study measures price equations involving monthly data for 40 products and likewise tests dynamic specifications on which these equations are based. Results show that aggregate price expectations affect individual pricing decisions. In addition, analysis indicates a slight bias for the level form of the price equation.

Pricing, Prices

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