Jagged Cliffs and Stumbling Blocks: Interest Rate Pass-Through Fragmentation During the Euro Area Crisis
In: ECB Working Paper No. 1850
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In: ECB Working Paper No. 1850
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In: ECB Working Paper No. 2024/2917
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In: Transfer: the European review of labour and research ; quarterly review of the European Trade Union Institute, Band 18, Heft 2, S. 213-224
ISSN: 1996-7284
The recent financial crisis has once again highlighted the precarious situation of trade unions: austerity measures have targeted unions' traditional institutional ally, the welfare state, as well as their last organizational stronghold, the public sector. The purpose of this article is to examine how trade unions have responded to reductions in welfare provision, due either to reform or to state inaction, and how state retrenchment can provide a silver lining for unions via the enhancement of unions' bargaining responsibilities. We argue that, apart from retrenchment and privatization, there is a third road to welfare reform which involves unions' 'collectivization' of social risks through the take-up of marginalized policies in bargaining agreements. Presenting evidence from a most-likely (the Netherlands) and least-likely (Greece) case, we identify instances where unions have acted as pivotal political substitutes to the state in the realm of welfare provision.
In: ECB Working Paper No. 2022/2702
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In: ECB Working Paper No. 2022/;2720
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In: ECB Working Paper No. 20202496
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Working paper
In: ECB Working Paper No. 20202440
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Working paper
In: ECB Working Paper No. 2022/2644
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In: ECB Working Paper No. 20202377
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In: ECB Occasional Paper No. 2022/293
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