Low wage work and pay setting institutions in five European countries and the USA

Abstract

This paper is devoted to the analysis of the differences in the share of low wage work in six countries. The main differences are related with the set of institutions that influence the regulation of labour markets. It is emphasized the role of collective bargaining, minimum wages, product market regulations and welfare systems.

Keywords

• low wage
• pay setting
• collective bargaining
• labour institutions
• minimum wage.