This paper presents an empirical analysis of investment in British industry using data at the industry level and focusing on union effects. The authors find that the rate of investment is around 28 percent lower in firms that recognize unions and have an average union density relative to those in which unions are not recognized. This is the gross effect, holding wages, product prices, and productivity constant. If we take account of union effects on these as well, the overall effect is an inv...Expand abstract
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Unions and Investment in British Industry.
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