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Reflections on wage-setting
Zimmermann, Klaus F. - 2018
Central banks need to be concerned about wages since they are a major driver of inflation. Rising wages are needed to signal directions for market adjustments to ensure growth. Wage growth is driven by relative scarcity, labor productivity and expectations about inflation and future growth....
Persistent link: https://www.econbiz.de/10012131008
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Collective bargaining systems and macroeconomic and microeconomic flexibility : the quest for appropriate institutional forms in advanced economies
Addison, John T. - 2015
This paper addresses the design of the machinery of collective bargaining from the perspective of the needs of microeconomic and macroeconomic flexibility. In the former context, greater attention is given over to enterprise flexibility than external adjustment. In the latter context, close...
Persistent link: https://www.econbiz.de/10011408196
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A sequential decomposition of the drop in collective bargaining coverage
Fitzenberger, Bernd; Sommerfeld, Katrin - 2015
Union representation has been in strong decline in most OECD countries with potentially important consequences for …
Persistent link: https://www.econbiz.de/10010532456
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Wage cyclicality and labour market institutions
Pereira, João Manuel; Ramos, Raúl; Martins, Pedro S. - 2024
Do labour institutions influence how wages respond to the business cycle? Such responsiveness can then shape several economic outcomes, including unemployment. In this paper, we examine the role of two key labour market institutions - collective bargaining and temporary contracts - upon wage...
Persistent link: https://www.econbiz.de/10014486321
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30,000 minimum wages : the economic effects of collective bargaining extensions
Martins, Pedro S. - 2014
Several countries extend collective bargaining agreements to entire sectors, therefore binding non-subscriber workers and employers. These extensions may address coordination issues but may also distort competition by imposing sector-specific minimum wages and other work conditions that are not...
Persistent link: https://www.econbiz.de/10010415530
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Efficient wage bargaining in a dynamic macroeconomic model
Böhm, Volker; Claas, Oliver - 2012
This paper analyzes the implications of bilateral bargaining over wages and employment between a producer and a union … market is cleared in a competitive way. It is shown that, for each level of union power, measured by the share it obtains of … union power, temporary equilibria may exhibit voluntary overemployment or underemployment with the competitive equilibrium …
Persistent link: https://www.econbiz.de/10009514990
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The impact of centralized bargaining on spillovers and the wage structure in monopsonistic labour markets
Bassier, Ihsaan - 2021
How does centralized bargaining affect the broader wage structure? And what does this tell us about the (non-)competitive dynamics of such labour markets? I study large contracted wage increases negotiated by centralized bargaining councils in South Africa, using matched employer- employee tax...
Persistent link: https://www.econbiz.de/10012608584
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Why do workers dislike inflation? : wage erosion and conflict costs
Guerreiro, João; Hazell, Jonathon; Lian, Chen; … - 2024
How costly is inflation to workers? Answers to this question have focused on the path of real wages during inflationary periods. We argue that workers must take costly actions ("conflict") to have nominal wages catch up with inflation, meaning there are welfare costs even if real wages do not...
Persistent link: https://www.econbiz.de/10015075346
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Wage cyclicality and labour market institutions
Pereira, João Manuel; Ramos, Raúl; Martins, Pedro S. - 2024 - This version: 29 July 2024
Do labour institutions influence how wages respond to the business cycle? Such responsiveness can then shape several economic outcomes, including unemployment. In this paper, we examine the role of two key labour market institutions - collective bargaining and temporary contracts - upon wage...
Persistent link: https://www.econbiz.de/10015044862
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Monetary policy and nominal rigidities under low inflation
Holden, Steinar - 2001
In most European countries, money wages are given in collective agreements or individual employment contracts, and the employer cannot unilaterally cut wages, even after the expiration of a collective agreement. Ceteris paribus, workers have a stronger bargaining position when they try to...
Persistent link: https://www.econbiz.de/10011398859