Dynamic Behaviour of a Unionized Solow-Swan Economy

Kim M. Hawtrey ()

The Economic Record, 1990, vol. 66, issue 193, pages 81-92

Abstract: The impact of union behavior on the economy has received fresh theoretical attention lately, but virtually all the work to date has been conducted in a comparative static context. The research reported in this paper seeks to break new ground in this field by placing the unionized labor market squarely in the framework of a dynamic (Solow-Swan) growth model. The analysis works from first principles, relating the microeconomic decision-making procedure of an interventionist trade union to the growth of the capital stock, and the intertemporal flavor of the model is enriched by the presence of two-period-lived individuals. The precise dynamics of the interaction between union optimization and capital accumulation are unfolded. Copyright 1990 by The Economic Society of Australia.

Date: 1990
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Persistent link: http://EconPapers.repec.org/RePEc:bla:ecorec:v:66:y:1990:i:193:p:81-92

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