Theory suggests that firms confront a hold-up problem in dealing with workplace unionism: unions will appropriate a … context of Germany where the works council is the analogue of workplace unionism. Using parametric and nonparametric methods … (favorable) impact on investment. …

positively both on the trade union's bargaining power and on the wage elasticity of labour demand. That elasticity depends either …

The current extensive literature on irreversible investment decisions makes the assumption of constant interest rate … investment project. Given the generality of the considered valuation problem, we first provide a thorough mathematical … interest rate variability may have a profound decelerating or accelerating impact on investment demand depending on whether the …

We analyze the impact of progressive taxation on irreversible investment under uncertainty. We show that if tax … exemption is lower than sunk cost, higher tax rate will decelerate optimal investment by increasing the optimal investment … investment threshold is a positive function of volatility, but independent of tax rate. For "medium" volatilities it is …

The current extensive literature on irreversible investment decisions makes the assumption of constant interest rate … investment project. Given the generality of the considered valuation problem, we first provide a thorough mathematical … interest rate variability may have a profound decelerating or accelerating impact on investment demand depending on whether the …