Executive Summary
After comprehensive evaluation of the implication of public sector unionization and collective bargaining, we find that these public sector employees were undercompensated than being overcompensated. This calculation also takes into account modest overpayment as low skill and educational level, and modest underpayment at high skill and educational level. Next, it can be inferred that public sector bargaining units have worked well in reducing strikes and in achieving equitable outcomes. Though, care should be taken such that the arbitration process does not take long enough to cause hardship to parties involved. Regarding a response to financial crisis, there are several ...