Will wage austerity be even worse in OECD countries after the coronavirus crisis?

If we look at the OECD as a whole (there are exceptions: France and Italy), a wage austerity policy has been implemented since the late 1990s as real wage growth has been structurally lower than labour productivity growth. This policy is the main cause of the increase in corporate profitability, the low inflation and the low interest rates in OECD countries. The coronavirus crisis has triggered widespread reflection on correcting the disruptions associated with “neo-liberal” capitalism, and wage austerity is certainly one of them. So can we expect fairer income distribution in the wake of the crisis? On the contrary, there are grounds to fear that the sharp deterioration in companies' situation as a result of the coronavirus crisis (increasing debt, falling earnings, declining labour productivity due to the new health standards) will lead to greater wage austerity, as companies will want to restore their financial situation and return on equity.