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Imperfect Product Competition and the Capital-Labor Ratio of an Unionized Firm : Some Theory and Evidence from Belgian Manufacturing Firms

Author

Listed:
  • Bughin, Jacques

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES); McKinsey & Company, Brussels)

Abstract

The paper develops a theory of the firm’s capital-labor ratio unionization of its labor force. Using explicit game theoretical solutions to union-firm bargaining, it is demonstrated how the firm’s product market power interacts with the inputs allocation rule in such a way that unionism represents a new channel by which the firm’s capital intensity is related to imperfect product competition. Some tests are conducted on a panel of Belgian manufacturing firms, which confirm both the effects of market power on the capital-labor ratio as well as the diversity of the union-firm bargaining locus at the industry level.

Suggested Citation

  • Bughin, Jacques, 1993. "Imperfect Product Competition and the Capital-Labor Ratio of an Unionized Firm : Some Theory and Evidence from Belgian Manufacturing Firms," LIDAM Discussion Papers IRES 1993006, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvir:1993006
    as

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