The Economics of the Trade Union

Analyses the crucial features of unionised labour markets in industrialised countries, with emphasis on Britain and the USA.

This book analyses the crucial features of unionised labour markets. The models in the book refer to labour contracts between unions and management, but the method of analysis is also applicable to non-union labour markets where workers have some market power. In this book, Alison Booth, a researcher in the field, emphasises the connection between theoretical and empirical approaches to studying unionised labour markets. She also highlights the importance of taking into account institutional differences between countries and sectors when constructing models of the unionised labour market. While the focus of the book is on the US and British unionised labour markets, the models and analytical methods are applicable to other industrialised countries with appropriate modifications.

List of figures; List of tables; Preface; 1. Introduction; 2. The development of the union movements of Britain and the United States; 3. The orthodox theoretical framework: an overview; 4. Trade union objectives and the monopoly union model; 5. Bargaining models of the trade union; 6. Empirical estimates of the union wage differential; 7. The impact of trade unions on productivity, investment, profitability, employment and hours; 8. Unions and the macroeconomy; 9. Conclusion; References; Index.

This book analyses the crucial features of unionised labour markets in industrialised countries, with particular emphasis on Britain and the US. It explains the techniques used by economists to model unionised labour markets, and the connection between theoretical modelling and the empirical testing of theories.