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Wage Indexation: The Treatment of Public Sector Taxes and Goods

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  • P. J. LLOYD

Abstract

This paper considers the problem of constructing an index, in the presence of a large public sector, which will tell us whether any adjustment to wages or other payments to households in one situation will leave the households better or worse off than in some previous situation with a different set of prices. This index is an extension of the true price index. The paper also proposes an index of the affordable wages with which the first index should be compared.

Suggested Citation

  • P. J. Lloyd, 1978. "Wage Indexation: The Treatment of Public Sector Taxes and Goods," The Economic Record, The Economic Society of Australia, vol. 54(2), pages 182-194, August.
    • Handle: RePEc:bla:ecorec:v:54:y:1978:i:2:p:182-194
    DOI: 10.1111/j.1475-4932.1978.tb00329.x
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    References listed on IDEAS

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    1. Lloyd, P J, 1975. "Substitution Effects and Biases in Nontrue Price Indices," American Economic Review, American Economic Association, vol. 65(3), pages 301-313, June.
    2. Fisher, Franklin M. & Shell, Karl, 1972. "The Economic Theory of Price Indices," Elsevier Monographs, Elsevier, edition 1, number 9780122577505 edited by Shell, Karl.
    3. Martin David, 1975. "Measurement of the Cost of Living Including the Public Sector," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 4, number 1, pages 133-152, National Bureau of Economic Research, Inc.
    4. Samuelson, Paul A & Swamy, S, 1974. "Invariant Economic Index Numbers and Canonical Duality: Survey and Synthesis," American Economic Review, American Economic Association, vol. 64(4), pages 566-593, September.
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    Cited by:

    1. P. MORGAN & J. McDONALD & A. WOODFIELD, 1986. "Affordability and Some Welfare Aspects of Indexation," The Economic Record, The Economic Society of Australia, vol. 62(1), pages 37-48, March.
    2. W. Max Corden & Sisira Jayasuriya, 2006. "Distinguished Fellow of the Economic Society of Australia, 2005: Peter Lloyd," The Economic Record, The Economic Society of Australia, vol. 82(256), pages 77-81, March.

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