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This paper analyzes the implications of bilateral bargaining over wages and employment between a producer and a union representing a finite number of identical workers in a monetary macroeconomic model of the AS--AD type with government activity. Wages and aggregate employment levels are set...
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In the paper steps are taken towards integration of two parts of Trygve Haavelmo’s work: investment theory and …. -- Investment theory ; Econometrics of investment ; Stock-flow interaction ; Dynamic stability ; Capital retirement ; Price …
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We develop a theory of endogenous political entrenchment in a simple two-party dynamic model of income redistribution … theory for constitutionally legislated term limits is also discussed. The theory sheds light on why left-wing parties or …
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