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Dynamic Wage-Employment Bargaining with Employment Adjustment Costs

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  • Lockwood, Ben
  • Manning, Alan

Abstract

This paper looks at the consequences of introducing employment adjustment costs into two standard models of trade unions--the right-to-manage model and the efficient-bargain model. The authors look at how unions affect both the speed of adjustment to equilibrium and the long-run equilibrium. They examine the consequences of the model for the estimation of dynamic labor demand equations and for the testing of trade union models. Copyright 1989 by Royal Economic Society.

Suggested Citation

  • Lockwood, Ben & Manning, Alan, 1989. "Dynamic Wage-Employment Bargaining with Employment Adjustment Costs," Economic Journal, Royal Economic Society, vol. 99(398), pages 1143-1158, December.
  • Handle: RePEc:ecj:econjl:v:99:y:1989:i:398:p:1143-58
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    References listed on IDEAS

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    1. Ã…dne Cappelen & Nils Petter Gleditsch & Olav Bjerkholt, 1984. "Military Spending and Economic Growth in the OECD Countries," Journal of Peace Research, Peace Research Institute Oslo, vol. 21(4), pages 361-373, December.
    2. Fagerberg, Jan, 1987. "A technology gap approach to why growth rates differ," Research Policy, Elsevier, vol. 16(2-4), pages 87-99, August.
    3. Kellman, M, 1983. "Relative Prices and International Competitiveness: An Empirical Investigation," Empirical Economics, Springer, vol. 8(3-4), pages 125-138.
    4. Anthony P. Thirlwall, 2011. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," PSL Quarterly Review, Economia civile, vol. 64(259), pages 429-438.
    5. Smith, R P, 1977. "Military Expenditure and Capitalism," Cambridge Journal of Economics, Oxford University Press, vol. 1(1), pages 61-76, March.
    6. Houthakker, Hendrik S & Magee, Stephen P, 1969. "Income and Price Elasticities in World Trade," The Review of Economics and Statistics, MIT Press, vol. 51(2), pages 111-125, May.
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    Cited by:

    1. Adriana Cassoni & Steven G. Allen & Gaston J. Labadie, 2004. "Unions and Employment in Uruguay," NBER Chapters,in: Law and Employment: Lessons from Latin America and the Caribbean, pages 435-496 National Bureau of Economic Research, Inc.
    2. Krusell, Per & Rudanko, Leena, 2016. "Unions in a frictional labor market," Journal of Monetary Economics, Elsevier, vol. 80(C), pages 35-50.
    3. Kazanas, Thanassis & Miaouli, Natasha, 2014. "Wage-setting and capital in unionized markets: Evidence from South Europe," Economic Modelling, Elsevier, vol. 37(C), pages 368-376.
    4. Lindbeck, Assar & Snower, Dennis J., 2002. "The Insider-Outsider Theory: A Survey," IZA Discussion Papers 534, Institute for the Study of Labor (IZA).
    5. Andrews, Martyn & Harrison, Alan, 1998. "Testing for Efficient Contracts in Unionized Labour Markets," Bulletin of Economic Research, Wiley Blackwell, vol. 50(3), pages 171-200, July.
    6. Peter J. Luke & Mark E. Schaffer, 1999. "Wage Determination in Russia: An Econometric Investigation," CERT Discussion Papers 9908, Centre for Economic Reform and Transformation, Heriot Watt University.
    7. Andrew Downes & Nlandu Mamingi & Rose-Marie Belle Antoine, 2004. "Labor Market Regulation and Employment in the Caribbean," NBER Chapters,in: Law and Employment: Lessons from Latin America and the Caribbean, pages 517-552 National Bureau of Economic Research, Inc.
    8. Keshab BHATTARAI, "undated". "General Equilibrium with Unemployment: Theory and Application," EcoMod2008 23800013, EcoMod.
    9. de la Croix, David & Palm, Franz C. & Pfann, Gerard A., 1996. "A dynamic contracting model for wages and employment in three European economies," European Economic Review, Elsevier, vol. 40(2), pages 429-448, February.
    10. Bhattarai, Keshab, 2016. "Unemployment–inflation trade-offs in OECD countries," Economic Modelling, Elsevier, vol. 58(C), pages 93-103.
    11. Adriana Cassoni, 1999. "Labour demand in Uruguay before and after re-unionisation," Documentos de Trabajo (working papers) 0199, Department of Economics - dECON.
    12. Adriana Cassoni & Steven G. Allen & Gaston J. Labadie, 2000. "The Effect of Unions on Employment: Evidence from an Unnatural Experiment in Uruguay," NBER Working Papers 7501, National Bureau of Economic Research, Inc.
    13. Natasha Miaouli, 2001. "Employment and Capital Accumulation in Unionised Labour Markets: Evidence from five south-European countries," International Review of Applied Economics, Taylor & Francis Journals, vol. 15(1), pages 5-29.
    14. Adriana Cassoni & Steven G. Allen & Gaston J. Labadie, 2000. "Sindicatos y empleo en Uruguay," Research Department Publications 3093, Inter-American Development Bank, Research Department.
    15. Andrew S. Downes & Nlandu Mamingi & Rose-Marie Belle Antoine, 2000. "Labor Market Regulation and Employment in the Caribbean," IDB Publications (Working Papers) 3261, Inter-American Development Bank.
    16. de la Croix, David & Fagnart, Jean-Francois, 1995. "Underemployment of production factors in a forward-looking model," Labour Economics, Elsevier, vol. 2(2), pages 131-159, June.

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