A Dynamic Model of Union Membership and Employment

This paper re‐examines the dynamic features and the long‐run effects of raising interest rates on union membership and employment in the Jones–McKenna (1994) model. Two major findings emerge from the analysis. First, the dynamic system of Jones and McKenna’s model exhibits saddlepoint stability, rather than global stability. Second, when the economy experiences a rise in interest rate, union membership will eventually converge to a higher level

Econometrics · Economics · Interest rate · Macroeconomics · Mathematical economics · Raising (metalworking) · Stability (learning theory) · Computer Science · Labor market dynamics and wage inequality · Labor Movements and Unions · Mathematics · Taxation and Compliance Studies

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