money wages

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Related to Money Wage: Real wage

Money Wages

The dollar amount of an hourly wage, without regard for purchasing power, inflation, or other factors that may affect a wage's value. See also: Real Income, New York Dollar.

money wages

WAGE RATES expressed in terms of current MONEY values. An increase in the general level of prices that is not matched by an equivalent rise in money wages, either because of MONEY ILLUSION on the part of the labour force or because employers refuse to grant money wage increases, will cause REAL WAGES to fall; that is, an unchanged money-wage rate will now buy fewer goods and services at the higher level of prices.
References in periodicals archive ?
Almost nobody accepted the conclusion of an invariant relationship between unemployment and money wage growth.
Table 4: Rate and Indexes of Consumer Prices, Money Wages, Productivity, and Productivity-Adjusted Real Wages Indexes (1929 = 100) Money Productivity Unemployment Consumer Wages Rate Prices Annual Hourly Annual 1929 3.2% 100.0 100.0 100.0 100.0 1930 8.7% 97.3 97.4 98.4 94.8 1931 15.9% 88.6 90.4 94.4 94.4 1932 23.6% 79.6 80.1 82.4 81.8 1933 24.9% 75.4 73.3 82.6 87.6 Productivitiy -Adjusted Unemployment Real Wage Rate Hourly Annual Hourly 1929 100.0 100.0 100.0 1930 96.3 106.7 105.0 1931 97.1 111.4 109.7 1932 93.4 118.5 110.1 1933 91.6 117.0 119.6
W Phillips, "The relation between unemployment and the rate of change of money wage rates in the United kingdom, 1861-1957," Economica, vol.
It, nevertheless, is an attempt to effect current wages, the demand for labour and existing money wages. While, Pigou would argue for wage and labour flexibility, Keynes would argue that, as an example, the ability or process of wage bargaining cannot bring the level of money wages into conformity with the marginal disutility of the volume of employment.
He importuned them to forego any money wage rate reductions in response to the depressed economic conditions, At the conclusion of the conference, the press release stated:
A.W Phillips (1958) analyzed the relationship between money wages and unemployment in the United Kingdom between 1961 and 1957.
"Money Wage Dynamics and Labor Market Equilibrium," Journal of Political Economy, 1968a, 76(4), Part 2, pp.
Our 1996 paper described the effects of inflation due to a shock, S, to real wages resulting from money wage rigidity.
I will show that the correct answer depends on what one assumes to be the within-group incidence of the reduction in money wages that occurs when group insurance is part of a competitive compensation package.
"Money Wage Rigidity in New Zealand." Labour Market Bulletin, 1996:2, 23-50.
"The Movement of Real and Money Wage Rates," The Economic Journal, 48, 191, September 1938, pp.
By the time of the General Theory, Keynes introduced the money wage illusion as the motivation for wage rigidity.