Wage bargaining Research Papers - Academia.edu (original) (raw)

Debates about Britain's productivity performance have often drawn attention to the roles played by working practices and employment relations. In the 1980s and 1990s, trade unions were a prime focus; more recently, attention has turned to... more

Debates about Britain's productivity performance have often drawn attention to the roles played by working practices and employment relations. In the 1980s and 1990s, trade unions were a prime focus; more recently, attention has turned to high-involvement management (HIM) practices (also referred to as ‘high-performance work systems’). We combine the two to investigate the relationships between work organisation, trade union representation and workplace performance. We find that HIM has a positive impact on labour productivity. However, this effect is restricted to unionised workplaces, and seems more readily explained by concessionary wage bargaining than ‘mutual gains’, given the absence of any association with financial performance. These findings raise questions about the universal applicability of HIM as a route to improved workplace performance.

In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic... more

In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple

The divide in the Eurozone between a small set of core economies with strong international financial positions (North) and a set of debtor states that show periodic vulnerability in international financial markets (South) remains a core... more

The divide in the Eurozone between a small set of core economies with strong international financial positions (North) and a set of debtor states that show periodic vulnerability in international financial markets (South) remains a core feature of the area. Our understanding of that schism, however, remains incomplete. Comparative political economists have emphasised differences in labour market institutions – in particular wage setting – to explain the split. This article takes issue with that view, suggesting that the case for a wage-driven explanation of creditor and debtor states’ positions in the Eurozone remains weak. Instead, it emphasises the role of capital flows and the uneven impact these had on domestic demand across Eurozone states both before and after 2008. This macro-economically centred explanation – in which financial, rather than labour market, dynamics play the central role – has important implications for our evaluation of Eurozone reforms.

This dissertation offers an explanation of cross national incarceration rate variation for 17 industrialized countries for the second half of the 20th century. Both historical case studies and time-series cross-section analyses are used... more

This dissertation offers an explanation of cross national incarceration rate variation for 17 industrialized countries for the second half of the 20th century. Both historical case studies and time-series cross-section analyses are used to provide an institutional explanation of incarceration rate differences. Borrowing from Weber’s Sociology of Law and comparative legal scholarship, it is suggested that three types of legal

International political economy identifies declining nominal interest rates, securitization, and financial liberalization as drivers of rising housing prices. Despite witnessing these common credit shocks, however, developed economies... more

International political economy identifies declining nominal interest rates, securitization, and financial liberalization as drivers of rising housing prices. Despite witnessing these common credit shocks, however, developed economies experienced divergent trends in housing inflation since the 1980s. We offer a comparative political economy explanation of variation in house prices, arguing that by restraining household incomes, wage-setting institutions can blunt financial liberalization's inflationary impact on housing markets. Employing quantitative analysis and a comparative study of Ireland and the Netherlands, we uncover two findings. First, countries where political coalitions in the export sector held veto powers over those in the nontraded sector in national wage setting realized lower housing inflation. Second, the impact of sectoral coalitions on housing prices in OECD countries is similar to that of financial variables. Our results suggest that the organization of labor politics continues to play an important role in mitigating the destabilizing effects of global finance on developed economies.

Most treatments of the Great Depression have focused on its onset and its aftermath. In contrast, we take a unified view of the interwar period. We look at the slide into and the emergence from the 1920-21 recession and the roaring 1920s... more

Most treatments of the Great Depression have focused on its onset and its aftermath. In contrast, we take a unified view of the interwar period. We look at the slide into and the emergence from the 1920-21 recession and the roaring 1920s boom, as well as the slide into the Great Depression after 1929, and attempt to explain these phenomena in a unified framework. The model framework combines monopolistic product market competition with search frictions and bargaining in the labor market, allowing for both individual and collective (unionized) wage bargaining. We attribute the extraordinary macroeconomic and financial volatility of this period to two factors: Shifts in the wage bargaining regime and in the degree of monopoly power in the economy. The pro-union provisions of the Clayton Act of 1914 contributed to the slide in asset prices and the depression of 1920-21, while a series of tough anti-union Supreme Court decisions in late 1921 and 1922 coupled with the lax anti-trust enfo...

Debates about Britain's productivity performance have often drawn attention to the roles played by working practices and employment relations. In the 1980s and 1990s, trade unions were a prime focus; more recently, attention has turned to... more

Debates about Britain's productivity performance have often drawn attention to the roles played by working practices and employment relations. In the 1980s and 1990s, trade unions were a prime focus; more recently, attention has turned to high-involvement management (HIM) practices (also referred to as ‘high-performance work systems’). We combine the two to investigate the relationships between work organisation, trade union representation and workplace performance. We find that HIM has a positive impact on labour productivity. However, this effect is restricted to unionised workplaces, and seems more readily explained by concessionary wage bargaining than ‘mutual gains’, given the absence of any association with financial performance. These findings raise questions about the universal applicability of HIM as a route to improved workplace performance.

El mercado de trabajo espanol en la union monetaria. Flexibilidad de salarios y politica laboral. Author info | Abstract | Publisher info | Download info | Related research | Statistics. Author Info. Esteban Sanroma Melendez Raul Ramos... more

El mercado de trabajo espanol en la union monetaria. Flexibilidad de salarios y politica laboral. Author info | Abstract | Publisher info | Download info | Related research | Statistics. Author Info. Esteban Sanroma Melendez Raul Ramos Lobo (Universitat de Barcelona) ...

Overall, if the labour markets would be accepted as two polarized blocks, surveying the economic and social dimensions of wages will be pertinent. It has become a confliction between employers and employes, shuttered in this distinction,... more

Overall, if the labour markets would be accepted as two polarized blocks, surveying the economic and social dimensions of wages will be pertinent. It has become a confliction between employers and employes, shuttered in this distinction, a fair regulation of wages for many economists were forced to detect new formulas. However, in the labour economics literature such secondary actors employes and employers; have to accept the existence of government and unions. These secondary actors acquirement from labour markets seat the economic balance on a quartet trivet. So far, in observance of the doctrinal explanation that it can be obtained is a multi-dimensional and multi-functional wage model on the basis of four actors in the labour market can be reached will contribute to the balance.

Resumen: El objetivo de este artículo es analizar el proceso de crecimiento de la economía española desde los orígenes de la Democracia hasta nuestros días. En la primera parte analizamos las peculiaridades del modelo de crecimiento y... more

Resumen: El objetivo de este artículo es analizar el proceso de crecimiento de la economía española desde los orígenes de la Democracia hasta nuestros días. En la primera parte analizamos las peculiaridades del modelo de crecimiento y vemos como la evidencia empírica no es consistente con las predicciones de los modelos de crecimiento estándar (ie modelo de crecimiento neoclásico con TFP exógena). En concreto, en los últimos 30 años España ha presentado dos largos ciclos de crecimiento que lejos de estar equilibrados ...

This paper deals with the effects to labour market institutions on labour market performance. We analyse the employment threshold (the minimum growth rate necessaryto keep employment constant) which is an indicator for the labour... more

This paper deals with the effects to labour market institutions on labour market performance. We analyse the employment threshold (the minimum growth rate necessaryto keep employment constant) which is an indicator for the labour intensity of production. We show for 17 OECD countries for the period 1971 to 2002 that the strictness of employment protection, the extent of wage bargaining co-ordination and the tax wedge reduce the labour intensity of production and raise the employment threshold.

The conventional diagnosis of Germany’s poor economic performance focuses on supply-side weaknesses and the need for more vigorous reforms to make low-skill labour markets more flexible. We question this on both theoretical and empirical... more

The conventional diagnosis of Germany’s poor economic performance focuses on supply-side weaknesses and the need for more vigorous reforms to make low-skill labour markets more flexible. We question this on both theoretical and empirical grounds. In an extended version of a New Keynesian model shifts in aggregate demand can move the economy along a range of constant-inflation medium-run unemployment equilibria.