Unionized labor markets and globalized capital markets

• 成果类型: Article
• 署名作者: Aloi, Marta; Leite-Monteiro, Manuel; Lloyd-Braga, Teresa
• 署名单位: University of Nottingham; University of Nottingham; Universidade Catolica Portuguesa
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2009.02.007
• 发表日期: 2009
• 页码: 149-153
• 关键词: capital mobility; GLOBALIZATION; unions; welfare

摘要

This paper studies the effects of international integration of capital markets in a world where countries differ in their labor market institutions: one country has a perfectly competitive labor market while the other is unionized. We show that workers should favor autarky in the unionized country, but oppose it in the non unionized country and vice versa for owners of capital. Aggregate gains from integration, however, are negative. We also show that, under capital mobility, an increase in relative bargaining power of unions does not always improve workers' welfare. (C) 2009 Elsevier B.V. All rights reserved.