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The 2011 Industrial Relations Reform and Nominal Wage Adjustments in Greece
This study investigates nominal contractual base-wage adjustments in Greece associated with the 2011 industrial relations reform which re-defined the limits within which base wages could oscillate and allowed workersâ associations to negotiate for wages at the firm level. The assessment covers the period 2010-2013 and is based on information extracted from the universe of firm-level contracts signed in this period. We found that firm-level contracts increased dramatically shortly after the reform, now covering a larger pool of workers, especially in larger firms, and are associated with higher base-wage reductions in the post-reform period. At the firm level, wage reductions are higher when workers are represented by a workersâ association rather than a typical trade union. In addition, a heterogeneous effect is uncovered regarding the factors that shape base-wage adjustments (firm size, profitability, structure of bargaining body and aggregate unemployment) between new and traditional forms of workersâ representation in collective bargaining
The 2011 Industrial Relations Reform and Nominal Wage Adjustments in Greece
This study investigates nominal contractual base-wage adjustments in Greece associated with the 2011 industrial relations reform which re-defined the limits within which base wages could oscillate and allowed workersâ associations to negotiate for wages at the firm level. The assessment covers the period 2010â2013 and is based on information extracted from the universe of firm-level contracts signed in this period. We found that firm-level contracts increased dramatically shortly after the reform, now covering a larger pool of workers, especially in larger firms, and are associated with higher base-wage reductions in the post-reform period. At the firm level, wage reductions are higher when workers are represented by a workersâ association rather than a typical trade union. In addition, a heterogeneous effect is uncovered regarding the factors that shape base-wage adjustments (firm size, profitability, structure of bargaining body and aggregate unemployment) between new and traditional forms of workersâ representation in collective bargaining