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- W2094880319 abstract "The current wage round begins under circumstances markedly different from the previous one. A year ago the Department of Employment measure of the underlying growth in average earnings was, at 10 per cent, higher than at any period since the 1979-80 pay explosion. Following the invasion of Kuwait there were considerable dangers that cost pressures would initiate a wage-price spiral. In the event the hike in oil prices had only a small and temporary effect on headline inflation rates, which was more than offset by deflationary pressures resulting from the worse-than-expected economic downturn. In addition, UK entry to the ERM in October meant a major shift in the conduct of economic policy. The need to maintain the pound at its high central parity introduced extra discipline into pay-bargaining by ruling out the accommodation of uncompetitive wage rises through depreciation." @default.
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- W2094880319 date "1991-09-01" @default.
- W2094880319 modified "2023-09-27" @default.
- W2094880319 title "Economic Outlook 1990–1994: The London Business School with Gower Publishing: Forecast Release: THE 1991-92 WAGE ROUND" @default.
- W2094880319 doi "https://doi.org/10.1111/j.1468-0319.1991.tb00613.x" @default.
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