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Real Wages and Distributional Conflict in the German Hyperinflation


  • Burkett, Paul
  • Burdekin, Richard C K


Real wages during the German hyperinflation are analyzed in terms of the conflict between workers' wage demands and the pricing and employment decisions of firms. This framework incorporates the wage pressure effects of expected inflation and the "wage gap" between workers' target real wage and its observed value. Both of these effects are conditioned by unemployment that limits workers' ability to obtain their desired money wage adjustments. Empirical estimation over 1920-23 provides strong support for the hypothesized interaction between unemployment and real wage growth over the hyperinflation period. Copyright 1993 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Suggested Citation

  • Burkett, Paul & Burdekin, Richard C K, 1993. "Real Wages and Distributional Conflict in the German Hyperinflation," Australian Economic Papers, Wiley Blackwell, vol. 32(60), pages 73-91, June.
  • Handle: RePEc:bla:ausecp:v:32:y:1993:i:60:p:73-91

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    References listed on IDEAS

    1. Miller, P. W., 1995. "Effects on earnings of the removal of direct discrimination in minimum wage rates: A validation of the Blinder decomposition," Labour Economics, Elsevier, vol. 2(1), pages 106-106, March.
    2. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-1284, December.
    3. Edward P. Lazear & Robert L. Moore, 1984. "Incentives, Productivity, and Labor Contracts," The Quarterly Journal of Economics, Oxford University Press, vol. 99(2), pages 275-296.
    4. Chiswick, Barry R & Miller, Paul W, 1985. "Immigrant Generation and Income in Australia," The Economic Record, The Economic Society of Australia, vol. 61(173), pages 540-553, June.
    5. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82.
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