Hildreth, Andrew K.G; Coles, Melvyn G. - 2000
finished goods during a strike. Firms and the union are both risk neutral and have the same discount rate. It is shown that the … firm's threat point post-1982. Formal tests support the theory. Also consistent with the theory, it is found that union … wages decrease with inventories after 1982, but not before, and that the union wage gap is smaller after 1982 …