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Labor Policy and Investment

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Author Info
John Budd ()
Yijiang Wang ()

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Abstract

Policy debates over proposed legislative labor policy changes include contentions that business investment will negatively respond to labor laws that favor labor. Research on labor policy, however, often assumes that investment is fixed. We present a sequential bargaining model in which labor policies that increase labor's bargaining power and reduce management's options during strikes are predicted to reduce investment. Using provincial data on investment for 1967 to 1999, a strike replacement ban and protections for workers who refuse to handle struck work are estimated to reduce new investment, especially within the first few years after the policy change.

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Paper provided by Industrial Relations Center, University of Minnesota (Twin Cities Campus) in its series Working Papers with number 0502.

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Handle: RePEc:hrr:papers:0502

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Keywords:

Find related papers by JEL classification:
J58 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Public Policy
G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Investment Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Fallick, Bruce C & Hassett, Kevin A, 1999. "Investment and Union Certification," Journal of Labor Economics, University of Chicago Press, vol. 17(3), pages 570-82, July. [Downloadable!] (restricted)
    Other versions:
  2. Budd, J.W., 1993. "Canadian Strike Replacement Legislation and Collective Bargainig : Lessons for United States," Papers 93-08, Minnesota - Industrial Relations Center.
  3. Denny, Kevin & Nickell, Stephen J, 1992. "Unions and Investment in British Industry," Economic Journal, Royal Economic Society, vol. 102(413), pages 874-87, July. [Downloadable!] (restricted)
    Other versions:
  4. Budd, John W., 2000. "The effect of strike replacement legislation on employment," Labour Economics, Elsevier, vol. 7(2), pages 225-247, March. [Downloadable!] (restricted)
    Other versions:
  5. Morley Gunderson & John Kervin & Frank Reid, 1989. "The Effect of Labour Relations Legislation on Strike Incidence," Canadian Journal of Economics, Canadian Economics Association, vol. 22(4), pages 779-94, November. [Downloadable!] (restricted)
  6. Baldwin, Carliss Y, 1983. "Productivity and Labor Unions: An Application of the Theory of Self-Enforcing Contracts," Journal of Business, University of Chicago Press, vol. 56(2), pages 155-85, April. [Downloadable!] (restricted)
  7. Gunderson, Morley & Melino, Angelo, 1990. "The Effects of Public Policy on Strike Duration," Journal of Labor Economics, University of Chicago Press, vol. 8(3), pages 295-316, July. [Downloadable!] (restricted)
  8. Henry C. Simons, 1944. "Some Reflections on Syndicalism," Journal of Political Economy, University of Chicago Press, vol. 52, pages 1. [Downloadable!] (restricted)
  9. Peter Cramton & Morley Gunderson & Joseph Tracy, 1999. "The Effect Of Collective Bargaining Legislation On Strikes And Wages," The Review of Economics and Statistics, MIT Press, vol. 81(3), pages 475-487, August. [Downloadable!] (restricted)
    Other versions:
  10. Cameron W. Odgers & Julian R. Betts, 1997. "Do unions reduce investment? Evidence from Canada," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 51(1), pages 18-36, October.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Morris M. Kleiner & Hwikwon Ham, 2002. "Do Industrial Relations Institutions Impact Economic Outcomes?: International and U.S. State-Level Evidence," NBER Working Papers 8729, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-11-16.

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