Danthine, Jean-Pierre; Hunt, Jennifer - C.E.P.R. Discussion Papers - 1992
relationship between economic performance and the degree of centralization in wage bargaining (Calmfors and Driffill, 1988 …) flattens out. As a consequence, the importance of the position of a particular economy on the wage-bargaining scale diminishes …. We find, however, that the post-integration wage-price structure is closer to the configuration familiar to decentralized …