price-wage spiral
1Price/wage spiral — In macroeconomics, the price/wage spiral (also called the wage/price spiral) represents a vicious circle process in which different sides of the wage bargain try to keep up with inflation to protect real incomes. This process in turn is one cause …
2wage-price spiral — ➔ spiral1 * * * wage price spiral UK US noun [S] ECONOMICS ► a rise in prices that causes a rise in the amount that workers earn, which increases the cost of producing goods, making prices rise again: »A sharp fall in the value of sterling could… …
3wage-price — «WAYJ PRYS», adjective. of or having to do with the relation of wages to prices: »So the wage price spiral works not only vertically from wages to prices but horizontally from wages to other wages (Atlantic) …
4spiral — ▪ I. spiral spi‧ral 1 [ˈspaɪərəl ǁ ˈspaɪr ] noun [countable] a process, usually a harmful one, in which something continuously rises, falls, gets worse etc, often starting off slowly but gradually speeding up until it is out of control: • Sales… …
5spiral — n. an inflationary; wage price spiral (a vicious inflationary spiral) * * * [ spaɪ(ə)rəl] wage price spiral (a vicious inflationary spiral) an inflationary …
6Wage-Price Spiral — A macroeconomic theory to explain the cause and effect relationship between rising wages and rising prices, or inflation. The wage price sprial suggests that rising wages increase disposable income, thus raising the demand for goods and causing… …
7spiral — {{Roman}}I.{{/Roman}} noun ADJECTIVE ▪ vicious ▪ downward, upward ▪ deflationary, inflationary ▪ wage price ▪ …
8wage-price spiral — /ˌweɪdʒ praɪs ˌspaɪərəl/ noun a situation where price rises encourage higher wage demands which in turn make prices rise …
9wage-price spiral — /weɪdʒ praɪs ˈspaɪrəl/ (say wayj pruys spuyruhl) noun a series of movements in wages and prices, normally upwards, in which each change in one triggers a change in the other …
10Phillips curve — The Phillips curve is a historical inverse relation between the rate of unemployment and the rate of inflation in an economy. Stated simply, the lower the unemployment in an economy, the higher the rate of increase in wages paid to labor in that… …
