See for example Eatwell, Llewelyn and Tarling,
Money wage inflation in industrial countries. Review of
Economic Studies 41 (1974) 515-523
Aukrust 0,, Inflation in the open economy. Worldwide
inflation - theory and recent egperience.Ed Krause and Salant
Brookings institution.
Jackson Turner and Wilkinson, Do Trade Unions cause Inflation
Cambridge U.P. 1972
Scitovsky, I.Market power and inflation Economica Aug 1978
Another feature is that shifting of wage increases to
prices xxxxh has become increasingly easy (invisible Okvyvo
handshake ). This may have something to do with the
wider scope ( in practice ) of wage movements ( the large
concerns and the large unions ).
Thirdly,The shifting of price increases on to wages, if only
with a time lag has become prevalent even where no
explicit indexation took place. Due to this inflation tends
to be passed on th the next period. Inflation becomes
inherited from the past. ^ <tSUy
All this can still be reconciled with a relatively mild degree
of inflation. The violent destablisations which took
place at certain times were caused by commodity prices,
the dollar devaluation of 1971, the floating exchanges
an perhaps by exceptional wage increases ( the burst of 1969-71)
But these events would act more decisively on the
background of a general upward bias which persists until now.