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Labor Policy and Investment

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  • John Budd

    ()

  • Yijiang Wang

    ()

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 Human Resources and Labor Studies, 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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  1. Henry C. Simons, 1944. "Some Reflections on Syndicalism," Journal of Political Economy, University of Chicago Press, vol. 52, pages 1.
  2. 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.
  3. Baldwin, Carliss Y, 1983. "Productivity and Labor Unions: An Application of the Theory of Self-Enforcing Contracts," The Journal of Business, University of Chicago Press, vol. 56(2), pages 155-85, April.
  4. Budd, J.W., 1993. "Canadian Strike Replacement Legislation and Collective Bargainig : Lessons for United States," Papers 93-08, Minnesota - Industrial Relations Center.
  5. 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.
  6. 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.
  7. Denny, Kevin & Nickell, Stephen J, 1992. "Unions and Investment in British Industry," Economic Journal, Royal Economic Society, vol. 102(413), pages 874-87, July.
  8. 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.
  9. Budd, John W., 2000. "The effect of strike replacement legislation on employment," Labour Economics, Elsevier, vol. 7(2), pages 225-247, March.
  10. Cameron W. Odgers & Julian R. Betts, 1997. "Do unions reduce investment? Evidence from Canada," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 51(1), pages 18-36, October.
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Cited by:
  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.

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