The legal basis of collective bargaining in Austria is laid down by the Labour Constitution Act (ArbVG). According to the ArbVG, collective agreements can be concluded only between collective organisations of employers and employees. Therefore, the Austrian labour law systematically benefits...

The Belgian collective bargaining system is highly institutionalised and coordinated. Over 90% of employees are covered by a collective agreement, placing Belgium among the countries with the highest coverage in Europe. Also, the Belgian trade unions have a relatively high level of membership...

This background paper from the European Foundation has been drafted to coincide with the European Parliament's hearing on 12 September 2007 in Brussels on the "Role of the minimum wage/minimum income for social inclusion in the EU". The focus of the paper is on minimum wage provisions in Europe;...

This study examines whether it would be appropriate to introduce a guaranteed minimum income (GMI) at European level. It begins by describing the features of GMI systems implemented in the Member States for individuals of working age who are fit for work as well as the challenges they encounter...

This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...