The Strategic Use of Inventories in an Infinite Horizon Model of Wage and Employment Bargaining
AbstractInventories strengthen a firm's bargaining position in wage and employment negotiations. The model isolates this strategic motive for holding inventories. In a steady state, employment and output are lower, but not necessarily wages. Welfare effects are ambiguous: compared to a set-up where inventory accumulation is not possible, steady state union utility is lower, but if the firm starts from a zero level of inventories, then the union may be better off. Steady state profits may be higher or lower, and the firm may be better off or worse off if it starts from zero inventories. Copyright 1993 by Scottish Economic Society.
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Bibliographic InfoArticle provided by Scottish Economic Society in its journal Scottish Journal of Political Economy.
Volume (Year): 40 (1993)
Issue (Month): 2 (May)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0036-9292
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- S. Dobbelaere & J. Mairesse, 2009.
"Panel data estimates of the production function and product and labor market imperfections,"
Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium
09/586, Ghent University, Faculty of Economics and Business Administration.
- Sabien Dobbelaere & Jacques Mairesse, 2013. "Panel data estimates of the production function and product and labor market imperfections," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 28(1), pages 1-46, 01.
- Sabien Dobbelaere & Jacques Mairesse, 2008. "Panel Data Estimates Of The Production Function And Product And Labor Market Imperfections," NBER Working Papers 13975, National Bureau of Economic Research, Inc.
- Dobbelaere, Sabien & Mairesse, Jacques, 2007. "Panel data estimates of the production function and product and labor market imperfections," Working Paper Series 0782, European Central Bank.
- Dobbelaere, Sabien & Mairesse, Jacques, 2010. "Panel Data Estimates of the Production Function and Product and Labor Market Imperfections," IZA Discussion Papers 5176, Institute for the Study of Labor (IZA).
- Sabien Dobbelaere & Jacques Mairesse, 2009. "Panel Data Estimates of the Production Function and Product and Labor Market Imperfections," Tinbergen Institute Discussion Papers 09-001/3, Tinbergen Institute.
- Jennifer C. Smith, 1996. "Effet du pouvoir de négociation et du marché local du travail sur la détermination des salaires," Économie et Prévision, Programme National Persée, vol. 126(5), pages 1-17.
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