Union membership and employment dynamics: A note

Abstract

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. We analyze union behavior in a model with membership dynamics and compare the labor market outcomes to static union models. Based on empirical findings we modify standard models and show that the well-known result that static models overstate distortions caused by unions only holds in the special case of firm-level wage setting. If, however, the union is big enough to determine employment for the whole sector, it rather depends on both the elasticity of labor demand and union's time preference whether static frameworks overrate or even underrate unions' distortions. Terms of use: Documents in EconStor mayJEL-Code: C61, J50, J51.

Cross-border Transactions of Intermediated Securities

“…See Maisie Ooi, Share and Other Securities in the Conflict of Laws (New York: Oxford University Press, 2003) at 3~12 for an introduction to both cases. 66 However, from the perspective of the PIL rule, intermediated securities should indicate such rights 67 as co-ownership interests in the collective securities bulk (in Germany and Korea), rights themselves which can be represented or evidenced in securities certificates (in Japan and Swisstzerland), or security entitlements (in the U. S.) that an investor holds resulting from a credit of a financial asset to a securities account. 64 Article 1(a) of the Geneva Securities Convention defines securities as "any shares, bonds or other financial instruments or financial assets (other than cash) which are capable of being credited to a securities account and of being acquired and disposed of in accordance with the provisions of this Convention" and Article 1(b) defines intermediated securities as "securities credited to a securities account or rights or interests in securities resulting from the credit of securities to a securities account" [underline added].…”

“…66 The GSC Draft Official Commentary at para. This is because the very starting point of the Germanic intermediated system is deposited securities certificates.…”

“…62 In order to be a securities account, it is not relevant that a credit of securities is actually made at any given time. 66 An account holder is "a person in whose name an intermediary maintains a securities account, whether that person is acting for its own account or for others (including in the capacity of intermediary) (Art. 6).…”

“…at para. 66 Article 667 specifies that the mandatary (Beauftragte) is bound to return to the mandator (Auftraggeber) all that she receives in order to perform the mandate, and that she acquires from the performance of managing the affair. at para.…”

“…6:6 & 11A:6 for further explanation regarding the segregation rule and practice in the U.S. See also Francis J. Facciolo, "Father Knows Best: Revised Article 8 and the Individual Investor" (2000) 27 Fla. St. U.L. 66 The concept of security entitlements is said to be analogous to the concept of securities certificates in the traditional law (ibid. 615 at 685~688 for discussion regarding the SEC segregation rule and its subordination to hypothecation rules (i.e.…”