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A Dynamic Model of Union Membership and Employment: A Comment

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  • Juin‐Jen Chang
  • Ching‐Chong Lai
  • Wen‐Ya Chang

Abstract

This paper re‐examines the dynamic features and the long‐run effects of raising interest rates on union membership and employment in the Jones–McKenna (1994) model. Two major findings emerge from the analysis. First, the dynamic system of Jones and McKenna’s model exhibits saddlepoint stability, rather than global stability. Second, when the economy experiences a rise in interest rate, union membership will eventually converge to a higher level.

Suggested Citation

  • Juin‐Jen Chang & Ching‐Chong Lai & Wen‐Ya Chang, 1998. "A Dynamic Model of Union Membership and Employment: A Comment," Economica, London School of Economics and Political Science, vol. 65(257), pages 145-151, February.
    • Handle: RePEc:bla:econom:v:65:y:1998:i:257:p:145-151
    DOI: 10.1111/1468-0335.00118
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