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

Jesus Ferreiro () and Carmen Gómez ()
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Carmen Gómez: Department of Applied Economics V, University of the Basque Country UPV/EHU, Spain

Authors registered in the RePEc Author Service: Carmen Gomez ()

Panoeconomicus, 2014, vol. 61, issue 1, 107-127

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.

Keywords: Incomes policy; Wage policies; Ireland; Spain (search for similar items in EconPapers)
JEL-codes: J51 J52 P52 (search for similar items in EconPapers)
Date: 2014
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