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The Dynamics of Monopoly Union Wages with Asymmetric Information

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  • Vetter, Henrik

Abstract

J. T. Dunlop's (1944) work on the monopoly union model emphasizes that the primary role of wages is to distribute industry rents. This paper extends the model to two periods and it is, furthermore, assumed that firms are better informed than workers about the size or quality of capital. This variable is unchanged over time so the firm's first period action signals information relevant for the second period wage. This dynamic relationship tends to lower labor demand in the first period. Copyright 1995 by The editors of the Scandinavian Journal of Economics.

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  • Vetter, Henrik, 1995. "The Dynamics of Monopoly Union Wages with Asymmetric Information," Scandinavian Journal of Economics, Wiley Blackwell, vol. 97(1), pages 89-103, March.
    • Handle: RePEc:bla:scandj:v:97:y:1995:i:1:p:89-103
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    Cited by:

    1. Adriana Cassoni, 1997. "A brief survey on the role of trade unions in labour market," Documentos de Trabajo (working papers) 0697, Department of Economics - dECON.

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