coordinated bargaining

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A property of national systems of collective bargaining that ensures wage negotiators coordinate their activities and take into account the combined impact of their bargaining on the national economy. Coordination can be achieved through a number of mechanisms including the centralization of the bargaining system, the acceptance of standard-setting agreements in lead industries or firms, or the activities of central union and business confederations. According to labour economists, the effects of coordination tend to be lower pay dispersion across the economy and less inflationary pressure, which in turn allows a higher level of employment. Critics of the British system of collective bargaining contend that it is insufficiently coordinated, with the result that wage inequality, inflation and unemployment are higher than they otherwise might be. [See bargaining level, pattern bargaining, and shunto.]

Subjects: Human Resource Management.

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