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Trade Union Orientation and Macro-Economic Management

Author

Listed:
  • Rosalind Chew

    (Division of Applied Economics, Nanyang Technological University, Nanyang Avenue, Singapore 639798, Singapore)

  • Soon Beng Chew

    (Division of Applied Economics, Nanyang Technological University, Nanyang Avenue, Singapore 639798, Singapore)

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.

Suggested Citation

  • Rosalind Chew & Soon Beng Chew, 2003. "Trade Union Orientation and Macro-Economic Management," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 6(03), pages 381-403.
    • Handle: RePEc:wsi:rpbfmp:v:06:y:2003:i:03:n:s0219091503001134
    DOI: 10.1142/S0219091503001134
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    More about this item

    Keywords

    Micro-focused; macro-focused; free riders; competitiveness; wage premium; cost-benefit analysis; employment; collective bargaining benefits; non-collective bargaining benefits; union stategies;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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