How Trade Unions Increase Welfare

How Trade Unions Increase Welfare

Historically, worker movements have played a crucial role in making workplaces safer. Firms traditionally oppose better health standards. According to our interpretation, workplace safety is costly for firms but increases the average health of workers and thereby the aggregate labour supply. A laissez-faire approach in which firms set safety standards is suboptimal as workers are not fully info...

Trade-diverting Customs Unions and Welfare Improvement: a Clarification

Currency Unions and Trade: How Large is the Treatment Effect?∗

It has been conspicuously hard to empirically identify clear-cut effects of Þxed exchange rates and other monetary regimes on the real economy. This paucity of empirical Þndings has lead many academic economists as well as other observers to the view that radical monetary reform — such as the adoption of a common currency — might have limited economic consequences. For example, it probably expl...

Trade unions and development

Trade Unions in Germany