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Is Unemployment Lower if Unions Bargain over Employment?

Abstract:

The authors consider an economy in which all firms are unionized and bargain with their own union. If unions bargain over employment as well as wages, employment will be the same as if they bargain over wages only, provided that the production function is Cobb-Douglas. (Employment will be higher if the elasticity of substitution between labor and capital is smaller than unity.) If the authors start from a fully competitive labor market and then move to one of efficient bargaining (over wages ...

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Authors


Richard Layard More by this author
Stephen Nickell More by this author
Journal:
Quarterly Journal of Economics
Volume:
105
Publication date:
1990
URN:
uuid:1acda6b7-f9a2-466a-84cc-4268e4db9392
Local pid:
oai:economics.ouls.ox.ac.uk:11351
Language:
English

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