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The Economic Effects of Labor Unions Revisited

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  • RICHARD VEDDER
  • LOWELL GALLAWAY
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    Abstract

    Using a variety of statistical techniques, we conclude that labor unions have reduced U.S. output by significant amounts -- trillions of dollars over time. Additionally, the employment-population ratio and the unemployment rate have been adversely affected by the presence of unions. From the very beginning, unionization materially lowered employment in the auto and steel industries, and union militancy in coal mining has contributed importantly to largely eliminating employment in this once large industry. While some individual workers have profited from unions, the aggregate economic impact is strongly negative.

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    Bibliographic Info

    Article provided by Transaction Publishers in its journal Journal of Labor Research.

    Volume (Year): 23 (2002)
    Issue (Month): 1 (January)
    Pages: 105-130

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    Handle: RePEc:tra:jlabre:v:23:y:2002:i:1:p:105-130

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    Web page: http://transactionpub.metapress.com/link.asp?target=journal&id=110581

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    Cited by:
    1. Doh-Khul Kim, 2005. "Unionization, Unemployment, and Growth in Korea: A Cointegration Approach," Atlantic Economic Journal, International Atlantic Economic Society, vol. 33(2), pages 225-233, June.
    2. Chen, Tsung-Kang & Chen, Yan-Shing & Liao, Hsien-Hsing, 2011. "Labor unions, bargaining power and corporate bond yield spreads: Structural credit model perspectives," Journal of Banking & Finance, Elsevier, vol. 35(8), pages 2084-2098, August.
    3. Steve Fleetwood, 2007. "Austrian economics and the analysis of labor markets," The Review of Austrian Economics, Springer, vol. 20(4), pages 247-267, December.
    4. Karina Gose & Abdolkarim Sadrieh, 2013. "Strike, coordination, and dismissal in uniform wage settings," FEMM Working Papers 130008, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.

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