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The Centralization of Wage Bargaining, Investment, and Technological Change

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  • Tapio Palokangas

Abstract

This paper examines the centralization of collective bargaining where unions are Stackelberg leaders, firms invest in capital and purchase intermediate goods from each other, and where learning-by-investment causes persistent technological change. The main finding is the following. Provided that the elasticity of substitution between labor and intermediate inputs is not very high or very low, bargaining at the central or local level yields higher employment as well as a higher rate of investment and growth than bargaining at the medium level of centralization.

Suggested Citation

  • Tapio Palokangas, 1997. "The Centralization of Wage Bargaining, Investment, and Technological Change," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 153(4), pages 657-657, December.
  • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(199712)153:4_657:tcowbi_2.0.tx_2-s
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    Cited by:

    1. Cabo, Francisco & Martín-Román, Ángel L., 2017. "Dynamic collective bargaining. Frictional effects under open-shop industrial relations," MPRA Paper 77562, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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