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...Microeconomic changes and macroeconomic wage dlslnflatlon in the s james h chan lee david t coe menahem prywes contents introduction policies institutional affecting labour market a government related to social protection b other c indexation procedures setting practices ii how have these affected developments at level aggregate equations stability of policy implications appendix bibliography authors are members general economics division statistics department they wish thank jeffrey shafer axe mittelstedt their colleagues country studies branch past six years seen most sustained period price disinflation since korean war unlike after first oil shock when growth contributed high inflation nominal moderation has been an important factor behind chart average pay increases seven largest oecd economies accelerated per cent immediately second but dropped below by number factors rapid overall stance particularly monetary did not accommodate large increase unemployment rates rose sharply non ...