5. Markets inherently impose these exacting standards of discipline when they  allow access to banks and corporates. For example, international capital tends to punish monetary and fiscal indiscipline severely. Even as some shocks tend to be impervious to fundamentals, economies with sound, prudent, transparent and accountable macro-policy frameworks have demonstrated success in containing negative externalities as well as in restoring normalcy faster.
So even though low wage growth works to constrain the growth of incomes for those who are employed, it also supports incomes by encouraging more employment than otherwise. Compositional change The outlook for the labour market will also depend on the composition of future labour demand.