Download or read book Centralisation of Wage Bargaining and Macroeconomic Performance written by Lars Calmfors and published by . This book was released on 1993 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Centralisation of Wage Bargaining and Macroeconomic Performance written by Jørgen Elmeskov and published by . This book was released on 1993 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Centralisation of Wage Bargaining and Macroeconomic Performance written by and published by . This book was released on 1993 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Wage Centralization Union Bargaining and Macroeconomic Performance written by Mr.James McHugh and published by INTERNATIONAL MONETARY FUND. This book was released on 2002-08-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses two questions. First, under what circumstances will a centralized wage-bargaining system offer higher output and employment than a decentralized system? Second, what is the relationship between the degree of wage centralization and inflation? The paper argues that centralized wage setting may offer worse outcomes, despite the existence of a negative coordination externality in decentralized wage setting. This is more likely to occur when the legal and institutional environment strengthens the bargaining position of the union in the centralized regime compared with unions operating in a more decentralized regime. Furthermore, as product markets become more competitive, the macroeconomic outcomes in both regimes converge, and the degree of wage centralization becomes irrelevant.

Download or read book Centralization of Wage Bargaining and Macroeconomic Performance written by Lars Calmfors and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Collective Bargaining and Wage Formation written by Hannu Piekkola and published by Springer Science & Business Media. This book was released on 2005-12-06 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hannu Piekkola and Kenneth Snellman ETLA, The Research Institute of the Finnish Economy, Helsinki, Finland The Labour Institute for Economic Research, Helsinki, Finland 1 The Basic Issues Wages have traditionally been agreed on collectively in Europe. The articles in this volume examine the current state of collective bargaining as well as the ch- lenges it is currently facing. The issues examined in these papers have a wide applicability to problems on the European labour markets. Torben M. Andersen and Steinar Holden review challenges from globalisation and inter-industry trade and the adaptation to a low-inflation environment. The other contributions are part of the project investigating collective bargaining in Finland, carried out by ETLA (the Research Institute of the Finnish Economy) and the Labour Institute for E- nomic Research. Some of them use results from a Finnish survey carried out by the two institutes ETLA and the Labour Institute on the views of employers and employees about labour relations and the labour market negotiation system. Bargaining systems are complex and their future development depends on their historical evolution, recent and past experiences, and the current situation in the labour market, as well as changes in the international environment. By examining the past functioning of the bargaining system one can observe how different e- ments in it have interacted with various factors in the environment of the system.

Download or read book Wage Bargaining Centralization and Macroeconomic Performance written by Enrique Fatas and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper experimentally analyzes the effect of wage bargaining centralization (WBC) on macroeconomic performance. Our theoretical benchmark comes from that developed by Cukierman and Lippi (1999) to investigate the joint effects of monetary policy and labor market institutions on unemployment and inflation. We focus on the implications of two well known effects related to the degree of WBC: the competitive effect and the strategic effect. To do so we established a simple wage setting mechanism based on the existence of assorted levels of WBC measured by the number of unions in the labor market. In the three control treatments, unions' welfare and monetary rewards depend only on unemployment and wages, so wage pressures are expected to diminish with the level of centralization. In the other three treatments (the strategic treatments) subjects tackle both the competitive and the strategic effect as the rate of inflation affect union's utility and subject's experimental rewards. Our results show that (i) as wages are significantly higher in the control treatments than in the strategic ones, the strategic effect seems to work in the way described by our theoretical model; (ii) nevertheless, the strategic effect does not fully operate according to the theoretical forecast, as lower levels of WBC, for which competitive effect dominates, offer a better macroeconomic performance.

Download or read book Centralization of Wage Bargaining and Macroeconomic Performance written by Lars Calmfors and published by . This book was released on 1987 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Centralization of Wage Bargaining Revisited written by John Driffill and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The original article with Lars Calmfors predicted that highly coordinated or centralized bargaining would lead to wage restraint and low unemployment. Despite shortcomings, this prediction has survived scrutiny. Recent work suggests that collective bargaining should be seen as part of broader research on institutions and macroeconomic performance in growth.

Download or read book Industrial Relations and Macroeconomic Performance written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-10-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the macroeconomic implications of different systems of industrial relations. After reviewing the relevant literature, and analyzing cross-country evidence, the paper focuses on the experience of centralized bargaining characterizing Spain in the period 1979-86. The paper argues, in accordance with the literature and the cross-country evidence, that the centralization of bargaining yielded positive macroeconomic effects in Spain, and thus that the shift toward a more decentralized setting after 1987 carries several risks. This conclusion is based on an empirical analysis of the wage setting process and of the evolution of labor shares in income.

Download or read book Central Bank Independence and Wage Bargaining Structure Empirical Evidence written by Juha Kilponen and published by . This book was released on 2009 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the relationship between central bank independence, wage bargaining structure and macroeconomic performance in OECD countries. A cross-sectional time-series (TSCS) model for inflation, nominal wage growth and unemployment for the period 1973-1996 is estimated using different and updated measures of central bank independence. The importance of the price stability objective in the central bank statute is used as a proxy for the degree of conservativeness of the central bank. A recently published data set on wage bargaining structure is used, and a distinction is made between coordination of wage bargaining and formal centralization. A new measure of union power is constructed, which combines formal centralization and union density. The implications of the large differences that can be seen between coverage and unionization rates in some countries are briefly discussed. Two important results emerge. First, the central bank's political independence and personnel independence contribute most importantly to a successful inflation policy. Second, a high level of coordination contributes to moderate inflation rates and unemployment, while union monopoly power tends to increase inflation.

Download or read book The structure of wage bargaining and macroeconomic performance written by Michael Bleaney and published by . This book was released on 1991 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Taxation Wage Bargaining and Unemployment written by Isabela Mares and published by Cambridge University Press. This book was released on 2006-02-13 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why were European economies able to pursue the simultaneous commitment to full employment and welfare state expansion during the first decades of the postwar period and why did this virtuous relationship break down during recent decades? This book provides an answer to this question, by highlighting the critical importance of a political exchange between unions and governments, premised on wage moderation in exchange for the expansion of social services and transfers. The strategies pursued by these actors in these political exchanges are influenced by existing wage bargaining institutions, the character of monetary policy and by the level and composition of social policy transfers. The book demonstrates that the gradual growth in the fiscal burden has undermined the effectiveness of this political exchange, lowering the ability of unions' wage policies to affect employment outcomes.

Download or read book A Survey on Labor Market Institutions Collective Bargaining and Macroeconomic Performance written by Francisco Carneiro and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper argues that the form in which collective bargaining is organized might be a decisive factor in determining the performance of modern industrialized economies. The whole literature on corporatism is concerned with showing that the degree of centralization and coordination in wage determination is a key factor in ensuring either a more or less painful adjustment to adverse economic conditions. In this sense, labor market institutions might assume one of two roles: (i) uncertainty reducers and catalysts of more flexible markets; or (ii) free-rider agents which would only be worried about appropriating product market quasi-rents. The first case seems to be more recurrent in corporatist countries where bargaining is centralized and coordinated. The second, more apparent where bargaining is decentralized and/or intermediate-centralized, is where rent-sharing seems pervasive and wage rigidity a strong possibility.

Download or read book The Structure of Industrial Relations Wages Policy and Technological Change written by Steve Dowrick and published by . This book was released on 1991 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Centralized Bargaining Efficiency Wages and Flexibility written by Mr.Ramana Ramaswamy and published by International Monetary Fund. This book was released on 1993-03 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main focus of the “wage bargaining” literature has been on the factors promoting real wage flexibility at the macro level. This paper, in contrast, examines the microeconomic issues of wage bargaining. More specifically, this paper appraises the following questions: (a) what are the conditions under which a firm prefers decentralized to centralized bargaining?, (b) what are the characteristic features of firms which prefer decentralized to centralized bargaining?, and (c) has the proportion of firms which prefer decentralized bargaining increased over time? These questions are examined in an efficiency wage model with insider-outsider features. This paper provides useful theoretical insights for understanding the issues involved in shifting from centralized to decentralized wage bargaining.

Download or read book The Costs and Benefits of Various Wage Bargaining Structures written by Alun H. Thomas and published by International Monetary Fund. This book was released on 2002-04 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on the relationship between the unemployment rate and wage bargaining fails to separate the offsetting effects of a reduction in competition associated with centralized bargaining and the increased awareness of unemployment externalities. This paper uses OECD data to distinguish these effects. While wages have become more sensitive to changes in the unemployment rate in countries that have switched to centralized wage-bargaining arrangements, the industry wage is not particularly sensitive to internal factors (relative price and productivity shifts) in economies with centralized/industry-level bargaining arrangements. The latter effect dominates in terms of persistently high unemployment and weaker growth.