The legal basis of collective bargaining in Austria is laid down by the Labour Constitution Act (ArbVG). According to the ArbVG, collective agreements can be concluded only between collective organisations of employers and employees. Therefore, the Austrian labour law systematically benefits...

The Belgian collective bargaining system is highly institutionalised and coordinated. Over 90% of employees are covered by a collective agreement, placing Belgium among the countries with the highest coverage in Europe. Also, the Belgian trade unions have a relatively high level of membership...

The right to collective bargaining is set out in the 1972 French Labour Code. In the last decades, collective bargaining has expanded, partly as a result of government initiatives. The importance of sectoral bargaining increased with the adoption of the 1982 Auroux laws, which obliged the...

The legal basis of collective bargaining in Germany is laid down by the Collective Agreements Act, 1949. Collective agreements can be concluded between employer associations (or individual employers) and trade unions. In contrast, works councils – statutory employee representation bodies...

Italian industrial relations are characterised by a low degree of ‘legal institutionalisation’. Legislation and the state have a limited role in the regulation of collective bargaining, conflict and union representation. In fact, it is possible to say that there is almost a complete...

The right to collective bargaining and the binding character of collective agreements is enshrined in the Spanish Constitution (Section 37.1). The system of collective bargaining is thoroughly regulated in Title III of the Workers’ Statute. In particular, Section 82.3 establishes the legally...

In Ireland, collective bargaining is organised as a three-tier system, with a dominance of bargaining and complementary bargaining at sectoral and company level. For over two decades collective bargaining, covering the unionised private and public sectors, has been regulated by national...

Two seemingly unconnected empirical results suggest an intriguing mechanism. First, economic integration helps harmonize prices internationally, with trade being the primary channel (Rogoff 1996, Goldberg and Knetter 1997). Second, monetary union may greatly increase the amount of trade among...

This paper uses data on German government bond futures options to examine the behaviour of market expectations around monetary policy actions of the European Central Bank (ECB). In particular, this paper focuses on the asymmetries in bond market expectations, as measured by the skewness of...

In this paper we propose a relatively simple procedure to predict Euro-zone industrial production using mostly data derived from the business surveys of the three major economies within the European Monetary Union (France, Germany, and Italy). The basic idea is that of estimating business...