01792cas a2200241 a 4500 AALejournalIMF008127 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451849257 1018-5941 BD-DhAAL BD-DhAAL Thomas, Alun. The Costs and Benefits of Various Wage Bargaining Structures : An Empirical Exploration / Alun Thomas. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The literature on the relationship between the unemployment rate and wage bargaining fails to separate the offsetting effects of a reduction in competition associated with centralized bargaining and the increased awareness of unemployment externalities. This paper uses OECD data to distinguish these effects. While wages have become more sensitive to changes in the unemployment rate in countries that have switched to centralized wage-bargaining arrangements, the industry wage is not particularly sensitive to internal factors (relative price and productivity shifts) in economies with centralized/industry-level bargaining arrangements. The latter effect dominates in terms of persistently high unemployment and weaker growth. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2002/071 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/071/001.2002.issue-071-en.xml IMF e-Library