Implementing a voluntary wage policy: Lessons from the Irish and Spanish wages policies before the crisis
Despite the relevance given by the Post-Keynesian thought to wage and incomes policies, little attention has been paid to the institutional elements that would favour the unions’ acceptance of a voluntary moderation of wage claims. Recent wage policies have been implemented in European coun...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Economists' Association of Vojvodina
2014-01-01
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| Series: | Panoeconomicus |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/1452-595X/2014/1452-595X1401107F.pdf |
| Summary: | Despite the relevance given by the Post-Keynesian thought to wage and incomes
policies, little attention has been paid to the institutional elements that
would favour the unions’ acceptance of a voluntary moderation of wage claims.
Recent wage policies have been implemented in European countries, like
Ireland and Spain, which do not fulfil the requirements assumed by
corporatist analysis for a successful implementation of wage policies. The
success of wage policies in Ireland and Spain, in terms of economic
performance and the length of current wage policies, offers a valuable
insight on how wages policies can be implemented as a key piece of
macroeconomic policy: It also helps our understanding of the institutional
framework that favours the implementation of voluntary wages policies. |
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| ISSN: | 1452-595X 2217-2386 |