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Efficient bargaining versus Right to manage in the era of liberalization

Author

Listed:
  • Natasha Miaouli

    (Athens University of Economics and Business)

  • Panagiota Koliousi

    (Athens University of Economics and Business)

Abstract

We compare product and labour market liberalization under the two trade union bargaining models: the Right- to- Manage (RTM) model and the Efficient Bargaining (EB) model. The vehicle is a dynamic general equilibrium (DGE) model that incorporates two types of agents (capitalists and workers), imperfectly competitive product and labour markets. The model is solved numerically employing common parameter values and data from the euro area. A key message is that product market deregulation is favourable under any labour market structure while opting for labour market deregulation one should provide special attention to the structu- re of the labour market such as the bargaining system of unions. If the prevailing way of bargaining is the RTM model then restructuring both markets is beneficial for all agents.

Suggested Citation

  • Natasha Miaouli & Panagiota Koliousi, 2018. "Efficient bargaining versus Right to manage in the era of liberalization," Working Papers 201804, Athens University Of Economics and Business, Department of Economics.
    • Handle: RePEc:aeb:wpaper:201804:y:2018
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    J5; I1;

    JEL classification:

    • J5 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining
    • I1 - Health, Education, and Welfare - - Health

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