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Productivity Growth, Wage Growth and Unions

Kuegler, A; Schoenberg, U; Schreiner, R; (2018) Productivity Growth, Wage Growth and Unions. In: Proceedings of ECB Forum on Central Banking, June 20th 2018,. (pp. pp. 215-247). ECB: Sintra, Portugal. Green open access

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Abstract

This paper reviews trends in labor productivity, wage growth, unemployment and inequality over the past two decades in nine advanced countries. We focus on the two largest countries in the eurozone, Germany and France, which experienced similar increases in productivity over the past 20 years. In France wages grew in tandem with productivity, inequality declined and unemployment remains stubbornly high. In Germany, in contrast, wages largely stagnated (until 2008), inequality increased (until 2010), but unemployment is now at a record low. This paper argues that the divergent development of Germany and France is in part a consequence of an unprecedented decentralization of the wage-setting process in Germany, from the sectoral level down to the level of the firm or the individual. In contrast, the distinctive characteristics of France’s system of industrial relations prevented France from a similar downward adjustment of wages

Type: Proceedings paper
Title: Productivity Growth, Wage Growth and Unions
Event: European Central Bank Forum on Central Banking
Location: Sintra, Portugal
Dates: 18 - 20 June 2018
Open access status: An open access version is available from UCL Discovery
Publisher version: https://www.ecb.europa.eu/pub/pdf/sintra/ecb.forum...
Language: English
Additional information: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/10069845
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