haku: @indexterm WAGE DETERMINATION / yhteensä: 225
viite: 135 / 225
| Tekijä: | Lockwood, B. Manning, A. |
| Otsikko: | Dynamic wage-employment bargaining with employment adjustment costs |
| Lehti: | Economic Journal
1989 : DEC, VOL. 99:398, p. 1143-1158 |
| Asiasana: | WAGE DETERMINATION EMPLOYMENT COLLECTIVE BARGAINING TRADE UNIONS DYNAMIC MODELS |
| Kieli: | eng |
| Tiivistelmä: | A simple dynamic model of collective bargaining is described and analyzed. The dynamic aspect of the model is represented by quadratic employment adjustment costs in the employer's profit function. It is shown how trade unions affect the speed of adjustment to equilibrium and the long-run equilibrium of the firm. It is also demonstrated that the adoption of a dynamic model has serious empirical implications for the estimation of dynamic labour demand equations, and the testing of trade union models. Current practice in these areas is not consistent with the theory. It is stressed that only one type of dynamics is considered. Dynamics derived from union membership effects has rather different behavior. |
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