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Wage Control

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Wage Control
A government regulation limiting the percentage (or, rarely, the dollar amount) by which a wage or salary can increase in a given year. Wage control generally is practiced only during national emergencies, or when inflation is particularly high. Wage controls were attempted during the 1970s in the United States and the United Kingdom, but were unsuccessful in curbing inflation.
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Such supply shocks are proxied by imp (the relative import prices inclusive of oil) and two period dummies indicating President Nixon's price and wage control periods.
Do labor market activities help predict inflation? by Hu, Luojia; Toussaint-Comeau, Maude / Economic Perspectives
And while an income policy for the fat cats may be quite appealing to most of us, economic history would suggest that incomes policies and wage controls do not work.
Think small, for a real global recovery! by Gulf Daily News (Manama, Bahrain)
Wage controls were in effect, so health coverage took the place of raises as a recruitment and retention tool.
A SECRET WISH FOR HEALTH REFORM by Catherine Arnst / BusinessWeek
 
 
 
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