Trade Union Orientation and Macro-Economic Management

Rosalind Chew and Soon Beng Chew ()
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Soon Beng Chew: Division of Applied Economics, Nanyang Technological University, Nanyang Avenue, Singapore 639798, Singapore

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 2003, vol. 06, issue 03, 381-403

Abstract: This paper makes the distinction between micro-focused unions and macro-focused unions, with the latter emphasizing full employment and competitiveness for the economy. It examines the micro-foundation of the macro-focused labor movement, which calls for certain conditions or arrangements conducive to, and the instruments needed for, the establishment and survival of macro-focused unions. The consequences and outcomes in an industrial relations regime in which macro-focused unions prevail are also examined, and measures for countering the free rider problem suggested. The main conclusion is that a macro-focused labor movement is a strategic partner with the government in enhancing international competitiveness, an option which is superior to an exchange rate policy.

Keywords: Micro-focused; macro-focused; free riders; competitiveness; wage premium; cost-benefit analysis; employment; collective bargaining benefits; non-collective bargaining benefits; union stategies (search for similar items in EconPapers)
JEL-codes: G1 G2 G3 (search for similar items in EconPapers)
Date: 2003
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DOI: 10.1142/S0219091503001134

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