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Towards a sustainable recovery [electronic resource] : : the case for wage-led policies.

Contributor(s): International Labour Office.
Material type: TextTextSeries: International journal of labour research: 2001, v. 3, issue 2.Publisher: Geneva : International Labour Office, 2011Description: 1 online resource (105 p.) : ill.ISBN: 9789221256243 (electronic bk.); 9221256243 (electronic bk.).Subject(s): Globalization -- Economic aspects -- Congresses | Globalization -- Economic aspects | International labor activities -- Congresses | International labor activities | Labor unions -- Congresses | Labor unions | Business | BUSINESS & ECONOMICS / Labor | POLITICAL SCIENCE / Labor & Industrial RelationsGenre/Form: Electronic books.Additional physical formats: Print version:: International Journal of Labour Research : Towards a sustainable recovery: the case for wage-led policiesDDC classification: 331 Online resources: EBSCOhost
Contents:
Foreword; Editorial; Wage-led growth:An introduction; Distribution and growth: A conceptual framework; Decline in the wage share: What are the causes?; Economic effects of a declining wage share; Classifying recent growth regimes and strategies:Credit-led growth, export-led growth or wage-led growth; Wage-led growth: a viable economic strategy; Leveraging inequality; Shifting wealth; Modelling the facts; Policy options; References; The productivity and investment effects of wage-led growth; How we got into this mess; The NAIRU model; A critique of the NAIRU; Further critique.
Empirical evidenceWages and economic recovery; References; The economics of wage-led recovery: Analysis and policy recommendations; Wage stagnation as an obstacle to recovery; Wage stagnation as a long-term structural problem; The economics of wage-led recovery; Empirical support for wage-led economics; A policy framework for wage-led recovery and growth; Conclusion; References; The impact of the crisis on labour relations and collective agreements in Greece; Main characteristics of the labour market in Greece; Trade unions and wage settingby collective agreement.
First measures aimed at the public sectorThe modifications to labour law; Changes to the collective agreement system; Conclusion; References; Tables; Table 1. Pro-labour and pro-capital distributional policies; Table 2. Economic structure: wage-led and profit-led demand and supply regimes; Table 3. Viability of growth regimes; Table 4. Actual growth strategies in the economic structure/distributionalpolicies framework; Table 5. Savings rates by income group, Germany, 1995-2007; Table 6. Econometric studies on wage-led and profit-led demand regimes; Table 7. Effects on private excess demand.
Table 8. Growth models of actually existing neo-liberalismTable 9. Increase in household debt 2000 to 2008; Table 10. International imbalances: current accountas a percentage of GDP; Table 1. Estimates of the impact of (investment) demand growth on productivity growth; Table 2. Estimates of the impact of real wage growth on productivity growth; Table 3. Estimates of the impact of labour market regulation on productivity growth; Table 1. Unemployment rates and output gaps in the OECD; Table 2. The prisoner's dilemma and international economic cooperation.
Table 3. Wage-led versus orthodox policy mixTable 1. Annual average wagein Europe in euros, 2009; Table 2. Unit labour costs in Europe, 2009; Figures; Figure 1. Adjusted wage shares in the euro area, the United States and Japan,1960-2007; Figure 1. Lending disposable income; Figure 2. Increasingly indebted; Figure 3. Borrowing from Peter to pay Paul; Figure 4. Averting a crisis; Figure 1. More labour market regulation and the NAIRU; Figure 2. More labour market regulation and higher real wage growthmay either reduce (panel a) or raise (panel b) the NAIRU.
Figure 1. The 1945-80 virtuous circle growth model.
Summary: This issue of the International Journal of Labour Research addresses a central issue, if not the key issue for the labour movement, that of wages and what has happened to them over the past three decades.
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Includes bibliographical references.

Foreword; Editorial; Wage-led growth:An introduction; Distribution and growth: A conceptual framework; Decline in the wage share: What are the causes?; Economic effects of a declining wage share; Classifying recent growth regimes and strategies:Credit-led growth, export-led growth or wage-led growth; Wage-led growth: a viable economic strategy; Leveraging inequality; Shifting wealth; Modelling the facts; Policy options; References; The productivity and investment effects of wage-led growth; How we got into this mess; The NAIRU model; A critique of the NAIRU; Further critique.

Empirical evidenceWages and economic recovery; References; The economics of wage-led recovery: Analysis and policy recommendations; Wage stagnation as an obstacle to recovery; Wage stagnation as a long-term structural problem; The economics of wage-led recovery; Empirical support for wage-led economics; A policy framework for wage-led recovery and growth; Conclusion; References; The impact of the crisis on labour relations and collective agreements in Greece; Main characteristics of the labour market in Greece; Trade unions and wage settingby collective agreement.

First measures aimed at the public sectorThe modifications to labour law; Changes to the collective agreement system; Conclusion; References; Tables; Table 1. Pro-labour and pro-capital distributional policies; Table 2. Economic structure: wage-led and profit-led demand and supply regimes; Table 3. Viability of growth regimes; Table 4. Actual growth strategies in the economic structure/distributionalpolicies framework; Table 5. Savings rates by income group, Germany, 1995-2007; Table 6. Econometric studies on wage-led and profit-led demand regimes; Table 7. Effects on private excess demand.

Table 8. Growth models of actually existing neo-liberalismTable 9. Increase in household debt 2000 to 2008; Table 10. International imbalances: current accountas a percentage of GDP; Table 1. Estimates of the impact of (investment) demand growth on productivity growth; Table 2. Estimates of the impact of real wage growth on productivity growth; Table 3. Estimates of the impact of labour market regulation on productivity growth; Table 1. Unemployment rates and output gaps in the OECD; Table 2. The prisoner's dilemma and international economic cooperation.

Table 3. Wage-led versus orthodox policy mixTable 1. Annual average wagein Europe in euros, 2009; Table 2. Unit labour costs in Europe, 2009; Figures; Figure 1. Adjusted wage shares in the euro area, the United States and Japan,1960-2007; Figure 1. Lending disposable income; Figure 2. Increasingly indebted; Figure 3. Borrowing from Peter to pay Paul; Figure 4. Averting a crisis; Figure 1. More labour market regulation and the NAIRU; Figure 2. More labour market regulation and higher real wage growthmay either reduce (panel a) or raise (panel b) the NAIRU.

Figure 1. The 1945-80 virtuous circle growth model.

This issue of the International Journal of Labour Research addresses a central issue, if not the key issue for the labour movement, that of wages and what has happened to them over the past three decades.

Description based on print version record.

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