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National Labour Relations in Internationalized MarketsA Comparative Study of Institutions, Change and Performance$
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Franz Traxler, Sabine Blaschke, and Bernhard Kittel

Print publication date: 2001

Print ISBN-13: 9780198295549

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198295549.001.0001

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Macroeconomic Wage Coordination

Macroeconomic Wage Coordination

Chapter:
(p.144) 10 Macroeconomic Wage Coordination
Source:
National Labour Relations in Internationalized Markets
Author(s):

Franz Traxler

Sabine Blaschke

Bernhard Kittel

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198295549.003.0010

Macroeconomic coordination refers to the coordination of pay negotiations adopted by a country's bargaining units across the economy. As long as the bargaining units are willing and able to modify their policy to achieve a common goal then there is macroeconomic coordination regardless of how differentiated and decentralized bargaining systems are. A corporatist approach lies on the notion of centralized interest intermediation. Centralized bargaining implies that market discipline can be achieved only with a negotiated and voluntarily established government. This chapter points out how inconsistencies concerning centralization and its implications can be attributed to the contrast of low degrees or bargaining centralization with corporatist practices. This chapter also relates the implications of centralization with such concepts such as internationalization, coordination, and embedding arrangements.

Keywords:   macroeconomic coordination, bargaining systems, bargaining units, corporatist theory, internationalization, coordination, embedding arrangements

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