We analyse the implications of unions (efficient bargaining) for multiplicity of stationary states and welfare, local … external increasing returns to scale, where capital is the unique asset. We find that a slight increase in unions power may … deterministic endogenous fluctuations. However, we find that union’s bargaining power can dramatically influence the local stability …

. Consequences of how the unions value members and members' status (employed or unemployed) in their collective maximand …

. Consequences of how the unions value members and members' status (employed or unemployed) in their collective maximand …

behaviour of trade unions? To approach these questions theoretical as well as empirical methods were used. The empirical methods …