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Union Militancy, External Shocks and the Accommodation Dilemma

In: Trade Unions, Wage Formation and Macroeconomic Stability

Author

Listed:
  • Hans Tson Söderström

    (Business and Social Research Institute)

Abstract

Stabilization policy under centralized wage setting is represented as a noncooperative game between an encompassing union and the government. The dilemma of the government is whether or not to accommodate supply disturbances when it cannot tell if they are due to an intentionally militant wage policy or unforeseen external price shocks. In a single round of wage setting, there is no government strategy which can both guarantee full employment and prevent union militancy. In a repeated game, however, there exists a conditional accommodation policy, which permits accommodation of supply shocks while inducing the union to refrain entirely from a militant wage policy.

Suggested Citation

  • Hans Tson Söderström, 1986. "Union Militancy, External Shocks and the Accommodation Dilemma," Palgrave Macmillan Books, in: Lars Calmfors & Henrik Horn (ed.), Trade Unions, Wage Formation and Macroeconomic Stability, pages 193-209, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08596-5_12
    DOI: 10.1007/978-1-349-08596-5_12
    as

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