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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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  • Holm, Pasi
  • Honkapohja, Seppo
  • Koskela, Erkki

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.

Suggested Citation

  • Holm, Pasi & Honkapohja, Seppo & Koskela, Erkki, 1990. "A monopoly union model of wage determination with taxes and endogenous capital stock: an empirical application to the Finnish manufacturing industry," Bank of Finland Research Discussion Papers 24/1990, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:rdp1990_024
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    Cited by:

    1. Tyrväinen, Timo, 1992. "Wage setting, taxes and demand for labour: Multivariate analysis of the cointegration relations," Bank of Finland Research Discussion Papers 22/1992, Bank of Finland.
    2. Tyrväinen, Timo, 1995. "Wage determination in the long run, real wage resistance and unemployment: Multivariate analysis of cointegrating relations in 10 OECD economies," Bank of Finland Research Discussion Papers 12/1995, Bank of Finland.

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