Fallick, Bruce C.; Hassett, Kevin A. - Federal Reserve Board (Board of Governors of the … - 1996
tax on capital rather than a tax on labor. Under this "new" view, unionization unambiguously lowers investment. Using data … on union certification elections, we estimate the impact of unionization on firms' investment behavior. Employing both a … standard q-model and an "investment surprises" technique, we find that union certification significantly reduces investment. We …