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Wages and employment in a unionized economy: Practical implications of theoretical considerations in the context of Finland

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  • Tyrväinen, Timo

Abstract

This article evaluates the fundamental characteristics of Finnish labour markets. As the unionization rate in Finland is exceptionally high by international standards, a bargaining approach incorporating the unions' key role in wage setting is applied. An analysis is made of basic trends in those factors which theoretical considerations imply as being relevant. The "wedge" between product wages and after tax consumption wages is evaluated with special care. It is stated that the wedge cannot be claimed to be a key factor contributing to the unfavourable trends seen in Finnish labour markets since the late 1970s. It is also argued that collective incomes policy measures have contributed to shortening of the adjustment lags in labour markets at least in some relevant occasions.

Suggested Citation

  • Tyrväinen, Timo, 1988. "Wages and employment in a unionized economy: Practical implications of theoretical considerations in the context of Finland," Bank of Finland Research Discussion Papers 20/1988, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:rdp1988_020
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    References listed on IDEAS

    as
    1. Skolnik, Amy, 1988. "The EC internal market: An "economic United States" of Europe," Bank of Finland Research Discussion Papers 19/1988, Bank of Finland.
    2. repec:zbw:bofrdp:1988_019 is not listed on IDEAS
    3. repec:zbw:bofrdp:1988_018 is not listed on IDEAS
    4. repec:zbw:bofrdp:1988_005 is not listed on IDEAS
    5. repec:zbw:bofrdp:1988_014 is not listed on IDEAS
    6. repec:zbw:bofrdp:1988_006 is not listed on IDEAS
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