Local and central wage bargaining produce distinct macroeconomic outcomes
Empirical economic research confirms that local (decentralized) and central wage-bargaining structures yield distinct macroeconomic outcomes, particularly regarding employment levels, wage inequality, and inflation.
The retrieved papers explicitly examine the differences between centralized and decentralized wage bargaining systems, demonstrating that these different institutional arrangements generate distinct macroeconomic outcomes such as varying employment rates, wage inequality, and inflation dynamics.
A. Garnero. The impact of collective bargaining on employment and wage inequality: Evidence from a new taxonomy of bargaining systems. 2020. https://doi.org/10.1177/0959680120920771
Paper 1 demonstrates that coordinated versus decentralized bargaining systems produce distinct macroeconomic outcomes regarding employment, unemployment, and wage inequality.
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J. McHugh. Wage Centralization, Union Bargaining, and Macroeconomic Performance. 2002. https://doi.org/10.5089/9781451856354.001.A001
Paper 2 analyzes how centralized versus decentralized wage-bargaining systems lead to different macroeconomic outcomes concerning output, employment, and inflation.
James McHugh. Wage Centralization, Union Bargaining, and Macroeconomic Performance. 2002. https://doi.org/10.5089/9781451856354.001
Paper 4 reinforces that centralized versus decentralized wage-setting regimes are associated with distinct macroeconomic performance measures.
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