"Differences in the development of wage levels and employment between individual economies are often explained by the institutional structuring of national wage rate systems. Clamping down on wage levels leads to higher levels of employment particularly in decentralised but also in centralised...

"Differences in the development of wage levels and employment between individual economies are often explained by the institutional structuring of national wage rate systems. Clamping down on wage levels leads to higher levels of employment particularly in decentralised but also in centralised...

Increased wage inequality between skilled and unskilled workers is a stylized fact, which can be observed in many developed countries. Among the explanations advanced for this phenomenon is the increasing globalization, a skill-biased technical progress, restructuring of the firms, and last but...