Colombo, Emilio; Tirelli, Patrizio; Visser, Jelle - In: Journal of Comparative Economics 42 (2014) 2, pp. 358-374
We investigate the empirical determinants of social pacts over the 1970–2004 period. We adopt a political economy approach, showing that governments are more likely to sign a pact when the cost of a conflict with trade unions is relatively larger. Such a cost depends on macroeconomic variables...