Wage-bargaining regimes across Europe are increasingly under pressure to become more flexible – flexibility here meaning moving from more centralised forms of bargaining (at national or sectoral level) to decentralised forms (at the company level). The goal of this is to keep pay rises in line with productivity, hence securing the competitiveness. However, this new report finds that wage moderation is more likely to occur when bargaining is centralised and coordinated across the economy. Read more