A Dynamic Model of Union Membership and Employment: A Comment.
This paper reexamines the dynamic features and the long-run effects of raising interest rates on union membership and employment in the Jones-McKenna (1994) model. Two major findings emerge from the analysis. First, the dynamic system of Jones and McKenna's model exhibits saddlepoint stability, rather than global stability. Second, when the economy experiences a rise in interest rate, union membership will eventually converge to a higher level. Copyright 1998 by The London School of Economics and Political Science
Year of publication: |
1998
|
---|---|
Authors: | Chang, Juin-jen ; Lai, Ching-chong ; Chang, Wen-ya |
Published in: |
Economica. - London School of Economics (LSE). - Vol. 65.1998, 257, p. 145-51
|
Publisher: |
London School of Economics (LSE) |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Equilibrium dynamics in an endogenous growth model of money and banking
Chang, Juin-jen, (2007)
-
Currency devaluation in an open-shop union
Lai, Ching-chong, (2001)
-
Efficient bargains and currency devaluation
Lai, Ching-chong, (1996)
- More ...