Corporatism or Competition? : Labour Contracts, Institutions and Wage Structures in International Comparison
Book Details
Format
Hardback or Cased Book
ISBN-10
0521590736
ISBN-13
9780521590730
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Sep 17th, 1998
Print length
364 Pages
Weight
705 grams
Dimensions
23.70 x 15.90 x 2.80 cms
Product Classification:
Labour / income economicsLabour economics
Ksh 20,900.00
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Teulings and Hartog examine the phenomenon of corporatism from a fresh and innovative perspective. Blending a wide-range of theoretical models with original research material, the authors have a clear and provocative thesis that corporatist institutions have a positive role, enhancing efficiency in the labour market.
The authors present important research showing that corporatist institutions generate smaller non-competitive wage differentials than a decentralized system. A theoretical explanation is developed based on the hold-up problem in investments, arguing that corporatist institutions solve the problem by specifying ex ante nominal contracts that remove the necessity of ex post bargaining over the surplus of an employment relationship. The authors also argue that such institutions allow sufficient flexibility to accommodate aggregate shocks, even more so than decentralized systems. Corporatism or Competition? is the first book to bring together the mass of research on comparative wage differences, wage movements and employment behaviour in different countries with different institutional frameworks, in an organized and coherent fashion.
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