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Insiders and Trade Union Wage Bargaining

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  • McDonald, Ian M

Abstract

This paper analyzes a trade union dominated by a sub-group of employed insiders who enjoy secure employment. From the analysis the bargained wage is shown to be positively related to the union power parameter and lay-off pay and negatively related to the degree of risk aversion of the employed insiders and the elasticity of the firm's revenue with respect to employment. These variables exert a similar influence on wages in models of the trade union where outsiders receive an equal weight to insiders in the trade union's objective function. This similarity is in marked contrast to much of the recent literature on insiders and implies that making a distinction between insiders and outsiders is not very important. Copyright 1991 by Blackwell Publishers Ltd and The Victoria University of Manchester

Suggested Citation

  • McDonald, Ian M, 1991. "Insiders and Trade Union Wage Bargaining," The Manchester School of Economic & Social Studies, University of Manchester, vol. 59(4), pages 395-407, December.
    • Handle: RePEc:bla:manch2:v:59:y:1991:i:4:p:395-407
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    Cited by:

    1. Laszlo Goerke & Markus Pannenberg, 2012. "Risk Aversion and Trade‐Union Membership," Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(2), pages 275-295, June.
    2. JOHN CREEDY & IAN M. McDONALD, 1991. "Models of Trade Union Behaviour: A Synthesis," The Economic Record, The Economic Society of Australia, vol. 67(4), pages 346-359, December.
    3. Ian McDonald, 2009. "Behavioural macroeconomics and wage and price setting: Developing some early insights of John Maynard Keynes and Joan Robinson," CAMA Working Papers 2009-11, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    4. Francisco Cabo & Angel Martín-Román, 2019. "Dynamic collective bargaining and labor adjustment costs," Journal of Economics, Springer, vol. 126(2), pages 103-133, March.

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