Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/203180
Authors: 
Vasilev, Aleksandar
Year of Publication: 
2019
Citation: 
[Journal:] Eurasian Economic Review [ISSN:] 2147-429X [Issue:] forthcoming [Pages:] 1-19
Abstract: 
In this paper we investigate the quantitative importance of collective bargaining agreements for the observed fluctuations in Bulgarian labor markets. Following Maffezzoli (2001), we introduce a monopoly union into a real-business-cycle model with government sector. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2018), and compare and contrast it to a model without unions. We fi nd that the sequential bargaining procedure between the monopoly union and the stand-in rm produces an important internal propagation mechanism within the theoretical setup, which allows the monopoly model to fi t data better than the alternative framework with perfectly-competitive labor markets.
Subjects: 
business cycles
general equilibrium
labor unions
indivisible labor
involuntary unemployment
JEL: 
E24
E32
J23
J51
Published Version’s DOI: 
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)

Files in This Item:
File
Size
344.19 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.