Wage Bargaining, Unemployment, and Growth
AbstractThis paper examines interactions between wage bargaining, unemployment, and growth. In the basic model, wage bargaining determines unemployment and is not influenced by growth. An increase in unemployment benefits increases unemployment and reduces capital accumulation. In a neoclassical framework, the long-run effect is a reduction of income per head. In contrast, the wage is not affected. With endogenous growth the wage level increases, but the growth rate declines. Only if growth increases labour market flows, it does have an influence on wage bargaining. Then an increase in growth may increase unemployment, and this, in turn, reduces growth.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 156 (2000)
Issue (Month): 4 (December)
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Find related papers by JEL classification:
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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- Jörg Lingens, 2002. "The Impact of a Unionised Labour Market in a Schumpeterian Growth Model," Labor and Demography 0207003, EconWPA.
- Juin-jen Chang & Ming-fu Shaw & Ching-chong Lai, 2005.
"A “Managerial” Trade Union and Economic Growth,"
IEAS Working Paper : academic research
05-A010, Institute of Economics, Academia Sinica, Taipei, Taiwan.
- Bräuninger, Michael, 2004.
"Social Security, Unemployment, and Growth,"
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266, Hamburg Institute of International Economics (HWWA).
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