New trends in wage policies

Up to a few years ago, wages policy was a central instrument of macroeconomic policy in Latin America, and there was a great deal of State intervention in it Now, in the early part of the 1990s, however, the countries of the region are mostly in a more balanced macroeconomic situation and have gone a long way in their process of trade openness. Both these factors heighten the importance of costs, in view of the need to maintain the competitiveness of national production, so that the search for instruments to facilitate control over costs, including labour costs, is now a constant concern.