Canadian Wage and Price Controls
Bibliographic Data
| ID | 11969797 |
|---|---|
| Authors | Frank Reid (corresponding author), Frank J Reid |
| Year | 1976 |
| Volume | 2 |
| Issue | 1 |
| Pages | 103-103 |
| Publication date | 1976-01-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Canadian Public Policy (JOURNAL) |
| Journal identifiers | ISSN: 0317-0861 • E-ISSN: 1911-9917 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/3550046 |
| OpenAlex | W2024433357 |
| Language | EN |
| Citations received | 3 |
| References cited | 6 |
The fundamental cause of inflation is the money supply growing at a faster rate than real output. As a result of the increase in inflationary expectations, however, simply decreasing the rate of growth of the money supply is not an attractive policy for reducing inflation - the cost may be several years of intolerably high unemployment. Wage and price controls may have a beneficial effect on expectations through their effect on actual rates of inflation. This requires three things. First, the government should adopt a policy of letting the exchange rate float (upwards). Second, the wage and price norms should be maintained below the expected rates of increase. Third, controls should be supplemented by a monetary and fiscal policy which is neither too expansionary nor too contractionary
Economics · Labour economics · Wage · Canadian Policy and Governance
| Unique citing works | 3 |
|---|---|
| Citations per year | 0.06 |
| Citation span | 1976 - 1985 (10) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |