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Implementing a Voluntary Wage Policy: Lessons from the Irish and Spanish Wages Policies before the Crisis

Author

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  • Jesús Ferreiro
  • Carmen Gómez

Abstract

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. Key words: Incomes policy, Wage policies, Ireland, Spain.JEL: J51, J52, P52.

Suggested Citation

  • Jesús Ferreiro & Carmen Gómez, 2014. "Implementing a Voluntary Wage Policy: Lessons from the Irish and Spanish Wages Policies before the Crisis," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 61(1), pages 107-127.
    • Handle: RePEc:voj:journl:v:61:y:2014:i:1:p:107-127:id:366
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    More about this item

    Keywords

    Incomes policy; Wage policies; Ireland; Spain;
    All these keywords.

    JEL classification:

    • J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
    • J52 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Dispute Resolution: Strikes, Arbitration, and Mediation
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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