A monopoly union model of wage determination with taxes and endogenous capital stock : an empirical application to the finnish manufacturing industry

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Title: A monopoly union model of wage determination with taxes and endogenous capital stock : an empirical application to the finnish manufacturing industry
Author: Holm, Pasi ; Honkapohja, Seppo ; Koskela, Erkki
Organization: Bank of Finland
Suomen Pankki
Department / Unit: Bank of Finland Research Department
Series: Bank of Finland Research Discussion Papers
Suomen Pankin keskustelualoitteita
Series number: 24/1990
Year of publication: 1990
Publication date: 21.11.1990
Pages: 40
Subject (yso): palkat; teollisuus; työmarkkinajärjestöt; verotus; taloudelliset mallit; investoinnit; pääoma
Other keywords: monopoly union; Nash equilibrium; wage; capital stock and employment determination
Abstract: The paper formulates a model of wage determination in accordance with the notion of a monopoly union determining wages after which the firm decides on employment. The novelty is to incorporate investment and capital decisions by firms. In the theoretical part the subgame-perfect Nash equilibrium and its comparative statics for wages, capital stock and employment are characterized in various cases.
Rights: https://helda.helsinki.fi/bof/copyright


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