This volume considers the development of the wage formation and wage bargaining institutions as a response to changes in the bargaining environment. These changes include a lower level of inflation and the growth in intraindustrial trade as firms have become more specialised. The response to these changes will depend on the current institutions and on the characteristics of the bargaining system. Generally there has been some move towards decentralisation, the question is what should be bargained centrally and which issues should be transferred to lower levels. Some of the contributions pay special attention to Nordic regimes using survey results gathered from the Finnish labour market partners.