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Wage Regulation in Czechoslovakia

In: Wage Control and Inflation in the Soviet Bloc Countries

Author

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  • Jan Adam

Abstract

Up to 1958 Czechoslovakia applied the classical Soviet SWR apart from a departure from the Soviet practice in one respect. In 1956 it introduced a change in the relationship between the over-fulfilment of output targets and the growth of the wage-bill. Until then, the wage-bill of enterprises could increase proportionally to the rate of over-fulfilment of the gross value of output target. This arrangement was—as already noted—prone to inflation. When in 1956 the planned global wage fund was overdrawn, the government decided to impose a more rigorous control; one of the most important measures was to introduce adjustment coefficients lower than unity for the over-fulfilment of plans.1

Suggested Citation

  • Jan Adam, 1979. "Wage Regulation in Czechoslovakia," Palgrave Macmillan Books, in: Wage Control and Inflation in the Soviet Bloc Countries, chapter 10, pages 164-174, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-04892-2_10
    DOI: 10.1007/978-1-349-04892-2_10
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