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incomes policy
(redirected from Wage-Price Control)

   Also found in: Encyclopedia, Wikipedia 0.01 sec.
incomes policy
n
(Economics) See prices and incomes policy
Translations
incomes policy npolitica dei redditi


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The recession of 1973-1975 was omitted because mandatory wage-price controls were lifted during the course of the recession, leading to a huge jump in wages and prices, a "catch-up" event.
Recent CEAs do not advocate--as the Keynesian reformers and planners did--exhortation of business and labor leaders, selective wage-price controls or selective credit controls to restrain inflation.
We did not include dummies for the wage-price control terms in both equations because such dummies were insignificant in the profit equation.
 
 
 
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