Coimbra, Rui; Lloyd-Braga, Teresa; Modesto, Leonor - Institute for the Study of Labor (IZA) - 2000
indeterminacy, bifurcations and endogenous fluctuations (deterministic and stochastic). We use an overlapping generations model with … deterministic endogenous fluctuations. However, we find that union’s bargaining power can dramatically influence the local stability …, the emergence of endogenous fluctuations, through Hopf bifurcations may become more likely when unions are present …