Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/211599 
Year of Publication: 
1990
Series/Report no.: 
Bank of Finland Discussion Papers No. 24/1990
Publisher: 
Bank of Finland, Helsinki
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.
Persistent Identifier of the first edition: 
ISBN: 
951-686-266-7
Document Type: 
Working Paper

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