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Wage policy under EMU

Author

Listed:
  • Ronald Janssen

    (Policy Researcher, European Trade Union Institute, Brussels)

  • Emmanuel Mermet

    (Economist, Confédération Française Démocratique du Travail, CFDT)

Abstract

After reviewing the different theories on the impact of EMU on wage policies and the way in which trade unions have sought to organise international coordination of wage bargaining in Europe, this article investigates whether EMU has had an effect on wage formation. It finds that there is indeed such an effect. EMU has gone hand in hand with relatively lower wage increases than in the pre-EMU period. European coordination of wage bargaining therefore remains necessary and has to be strengthened. This article also describes the interaction that has taken place over the last five years between wage formation on the one hand and macro-economic policies on the other. We find that here there is much scope for an improved and more intense dialogue between trade unions, the ECB and governments.

Suggested Citation

  • Ronald Janssen & Emmanuel Mermet, 2003. "Wage policy under EMU," Transfer: European Review of Labour and Research, , vol. 9(4), pages 666-687, November.
    • Handle: RePEc:sae:treure:v:9:y:2003:i:4:p:666-687
    DOI: 10.1177/102425890300900410
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    References listed on IDEAS

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    1. Lars Calmfors, 2001. "Wages and Wage-Bargaining Institutions in the Emu : A Survey of the Issues," CESifo Working Paper Series 520, CESifo.
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