Searching for the EU Social Dialogue Model / Richard B. Freeman.

Format:

Book

Author/Creator:

Freeman, Richard B.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w12306.

NBER working paper series no. w12306

Language:

English

Subjects (All):

Mathematical models.

Institutional economics.

European Union countries--Social policy.

European Union countries.

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2006.

Cambridge : National Bureau of Economic Research, 2006.

Summary:

The European Union and the United States operate different variants of market capitalism. The EU model uses social dialogue institutions to help determine economic outcomes, particularly in the labor market, whereas the US relies more on market forces. The theory of competitive markets provides a powerful framework for analyzing market driven economies and for assessing the conditions under which unfettered markets yield desirable outcomes. But there is no comparable framework for analyzing institution driven economies. This paper argues that models of efficient bargaining/the Coase Theorem offer the best framework for analyzing social dialogue economies and for identifying policies and institutional reforms to improve their functioning.

Notes:

Print version record

June 2006.