Why Are Australian Wages Lagging and What Can Be Done About It?

Isaac, J. E.

doi:10.1111/1467-8462.12270

Cited by 17 publications

(17 citation statements)

References 13 publications

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“…This policy followed an announcement by Shadow Workplace Relations Minister Brendan O'Connor earlier in the year, signalling a limited return to industry bargaining in low-paid industries (Karp, 2018). Such a policy corresponds with the latest data and findings of the Organisation for Economic Co-Operation and Development (OECD) on wage stagnation (OECD, 2018), as well as the research of Isaac (2018). This literature confirms a direct correlation between increasing social inequality and liberal labour markets (Mitchell and Arup, 2006), corresponding with relatively stable rates of inequality within societies that have maintained stricter labour laws such as those associated with industry bargaining.…”

Section: Discussionsupporting

confidence: 81%

Industrial legislation in Australia in 2018

Rawling¹,

Schofield-Georgeson

2019

Journal of Industrial Relations

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It has been a quiet year like last year for the passing of federal industrial legislation (due to a number of factors, including the political turmoil of the federal coalition government and their lack of an overall labour law reform agenda). This article examines key federal industrial legislative developments including the Modern Slavery Act 2018 (Cth). The article identifies that the federal Act contains much weaker compliance measures than the counterpart New South Wales legislation also passed in 2018 – the Modern Slavery Act 2018 (NSW). Also, although the Coalition government has attempted to continue to prosecute its case for further union governance measures, this agenda has been less successful than in previous years, with key government Bills not yet passed by the Parliament. The stagnation in the federal Parliament continues to motivate certain State Parliaments to address worker exploitation, and the article goes on to examine key State industrial legislation passed in 2018 including the Victorian labour hire licensing statute. In light of the continuing dominant position of the federal Labor opposition in opinion polls and an impending federal election in 2019, the article concludes by briefly considering the federal Labor opposition's agenda for industrial legislation.

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Section: Discussionsupporting

confidence: 81%

Industrial legislation in Australia in 2018

Rawling¹,

Schofield-Georgeson

2019

Journal of Industrial Relations

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“…In his penultimate publication (Isaac, 2018), Joe dealt at some length and elegantly with the present power imbalance (as he saw it). Relative power had shifted, over recent decades, in favour of employers.…”

Section: IImentioning

confidence: 99%

Joe Isaac (11 March 1922–17 September 2019)

Hancock¹,

Lansbury²

2020

The Economic and Labour Relations Review

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“…This lower limit can be related to labour supply factors such as unemployment benefits and trade union power. 2 In recent years it appears that ongoing low wage inflation has not kept up with the growth of money output per worker, nor indeed with Consumer Price Index (CPI) inflationsee for example Krueger (2018) for the US and Chua and Robinson (2018) and Isaac (2018) for Australia. Both Krueger and Isaac argue that employer 1.…”

Section: Introductionmentioning

confidence: 99%

Can loss aversion shed light on the deflation puzzle?

Lye

McDonald

2021

Review of Keynesian Economics

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This paper argues that the application of loss aversion to wage determination can explain the deflation puzzle: the failure of persistently high unemployment to exert a persistent downward impact on the rate of inflation in money wages. This is an improvement on other theories of the deflation puzzle which simply assume downward wage rigidity, namely the hysteresis theory, the lubrication theory and the efficiency wage theory. The paper presents estimates that support the loss-aversion explanation of the deflation puzzle for both the US and Australia. Furthermore, our estimation approach gives a more precise estimate of the potential rate of unemployment than does the natural rate approach and reveals potential rates of unemployment for the US and Australia at the end of 2017 of about 4 per cent and 3.3 per cent respectively.

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Why Are Australian Wages Lagging and What Can Be Done About It?

Cited by 17 publications

References 13 publications

Industrial legislation in Australia in 2018

Industrial legislation in Australia in 2018

Joe Isaac (11 March 1922–17 September 2019)

Can loss aversion shed light on the deflation puzzle?

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