A Dynamic Model of Union Membership and Employment: A Comment

Juin‐Jen Chang, Ching‐Chong Lai and Wen‐Ya Chang

Economica, 1998, vol. 65, issue 257, 145-151

Abstract: This paper re‐examines the dynamic features and the long‐run effects of raising interest rates on union membership and employment in the Jones–McKenna (1994) model. Two major findings emerge from the analysis. First, the dynamic system of Jones and McKenna’s model exhibits saddlepoint stability, rather than global stability. Second, when the economy experiences a rise in interest rate, union membership will eventually converge to a higher level.

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:bla:econom:v:65:y:1998:i:257:p:145-151

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