This paper analyzes the relation of pension coverage and key plan characteristics to measures of union membership and strength, and to related interactions. The large and significant relationships which are found cannot be explained by, and are often inconsistent with, predictions obtained by...

Relationships between intermediaries and their customers have become increasingly important in recent years. This paper argues that the need for costly ex ante information acquisition and analysis is a major barrier to the participation of investors and firms in sophisticated markets. Long-term...