Acta Universitatis Danubius. Œconomica, Vol 12, No 4 (2016)

Abstract

Abstract: In a global world, the industrial relations have become the strategical tool for economic development of the states. Our paper aim to emphasise the increasing role of wage bargaining systems in the industrial relations in European Union, going from the presumption that the labour market is changing every day and the European authorities must take the decisions with a high economic and social impact. Going from an extended literature review and using the data provided by Eurostat and Eurofound, reflecting the new European regulations concerning the employment relations, the findings of our paper reflect a dynamic transformation of wage bargaining systems at institutional level, labour market and collective bargaining. The results reflect the direct implications of wage bargaining systems on the labour productivity, on the political decisions considering the minimum wage and the real and nominal wage. Our findings are valuable for the academicians and practitioners interested in industrial relations and wage bargaining systems.