- List of Figures
- List of Tables
- About the Contributors
- Comparative Employment Systems
- Institutions and Employment Relations
- Convergence and Divergence in Employment Relations
- Getting Down to Business: Varieties of Capitalism and Employment Relations
- Business Systems Theory and Employment Relations
- Developments and Extensions of ‘Régulation Theory’ and Employment Relations
- Capitalist Diversity, Work and Employment Relations
- Ownership Rights and Employment Relations
- Varieties of Institutional Theory in Comparative Employment Relations
- Institutions and the Industrial Relations Tradition
- Conflict, Order, and Change
- Employment Relations in Liberal Market Economies
- Social Democratic Capitalism
- Employment Regimes, Wage Setting, and Monetary Union in Continental Europe
- Continuity and Change in Asian Employment Systems: A Comparison of Japan, South Korea, and Taiwan
- Economies Undergoing Long Transition: Employment Relations in Central and Eastern Europe
- Employment Relations in Anglophone Sub-Saharan Africa
- The Left Turn in Latin America: Consequences for Employment Relations
- Developing Societies—Asia
- Employment Relations in the BRICS Countries
- Globalization and Labour Market Governance
- Work, Bodies, Care: Gender and Employment in a Global World
- Where are the Voices? New Directions in Voice and Engagement across the Globe
- Insecure Employment: Diversity and Change
- The Migration–Development Nexus, Women Workers, and Transnational Employment Relations
- The Neo-Liberal Turn and the Implications for Labour
- The State and Employment Relations
- Unions: Practices and Prospects
- Institutions, Management Strategies, and HRM
- New Actors in Employment Relations
- The Future of Employment Relations in Advanced Capitalism: Inexorable Decline?
- Name Index
- Subject Index
Abstract and Keywords
Bob Hancké argues that Europe can be divided into two basic employment relations systems. Northern European coordinated market economies (CMEs) are characterized by strong labour unions and employer associations who link wages to productivity gains and propagate these wage rates to the rest of the economy. The mixed market economies (MMEs) of southern Europe are associationally weaker and the state compensates by intervening in wage determination and labour market protections. Within the same monetary regime, the employment systems of northern Europe were better at maintaining competitive unit labour costs. Hancké argues that these structural differences are the key contributing factor to growing current account imbalances within Europe and, directly and indirectly, to the sovereign debt crisis. Given the political resistance to radical labour market deregulation in MMEs, and the near impossibility of constructing centralized wage setting systems a la CMEs, the eurozone’s long-term solutions lie not in fiscal austerity but in a macroeconomic policy that equalizes growth and inflation rates across the zone (e.g. through fiscal union).
Bob Hancké, Reader in European Political Economy, London School of Economics and Political Science.
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