National wage-bargaining institutions are crucial in achieving pay outcomes that help to increase employment and economic growth within the context of avoiding macroeconomic imbalances within the European Monetary Union. Using a large set of empirical macroeconomic data from a variety of sources, including Eurofound and the European Commission AMECO database, this report analyses how the institutional features of national wage bargaining regimes influence pay outcomes. These features include bargaining level, type and level of coordination, use of opening clauses and the existence of wage pacts. The impact of government intervention through extension and derogation clauses and tripartite councils is also examined. The results of the study indicate that the key institutional variables of the wage-bargaining regime that influence pay outcomes are the type of coordination (how coordination is achieved) and the bargaining level. An executive summary is available - see Related content.