Titlebook: Union Wage Bargaining and Economic Growth; Jörg Lingens Book 2004 Springer-Verlag Berlin Heidelberg 2004 Economic Growth.Labour Markets.Un

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Introductionbilities of an economy and hence, the evolution of the welfare of an economy. Furthermore, it is well-known that even small deviations from a long run growth path have huge welfare implications. To put it in the words of Barro and Sala-i-Martin (1995): “Economic growth is the part of macroeconomics

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Static Bargaining ModelsOswald (1985), Booth (1996) or Layard et al. (1991)). In this section we will show the rationale behind the Nash bargaining solution (NBS in the following). The NBS was put forward in a paper by John Nash (1950) in which he uses an axiomatic approach to find a solution to bargaining situations. Axio

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Dynamic Wage Bargainingubinstein solution was that the bargain takes place in stationary (or steady state) situations. When describing the general idea of the Rubinstein solution, we have said that in an equilibrium, a player whose turn it is to make an offer will always make the same offer. This was due to the fact that

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The Growth Modelbent monopolist supplies the latest generation of the intermediate good to the final goods sector and finally the final goods sector, in which the consumption goods are produced using the ȝstate-of-the-artȝ intermediate good.

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One Sector Bargainingn the manufacturing sector. So from the set up, this model is rather close to Palokangas (1996) and (2000). and to the in the preceding section presented schumpeterian growth model. Interestingly enough the results of this section reproduce more or less the results shown in the schumpeterian growth

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Tax Policyloyment benefit is financed. To focus the arguments in the last section, we have not implemented this financing need into the analysis. What we want to do now is to implement taxation into the analysis to enrich the model. We assume that a government exists that pays the unemployment benefit and has