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 … of the system. In fact, while an increase in the bargaining power of unions reduces the scope for local indeterminacy …

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 … of the system. In fact, while an increase in the bargaining power of unions reduces the scope for local indeterminacy …

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 … of the system. In fact, while an increase in the bargaining power of unions reduces the scope for local indeterminacy …

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

(1999-2016), and compare and contrast it to a model with indivisible labor and no unions as in Rogerson and Wright (1988 …). We find that the sequential bargaining between unions and firms produces an important internal propagation mechanism …