Autore
Palokangas, Tapio

Titolo
Optimal capital taxation, labour unions, and the hold-up problem
Periodico
Labour
Anno: 2014 - Volume: 28 - Fascicolo: 4 - Pagina iniziale: 359 - Pagina finale: 375

This document examines optimal capital taxation with wage-setting labour unions when the government taxes consumption, labour, and capital. The results are as follows. If unions can commit themselves to particular wages for a long period, then there is no hold-up problem. Otherwise, the hold-up problem creates a positive link from capital accumulation to the wage. The optimal labour subsidy is positive and greater in the presence than in the absence of the hold-up problem. The optimal capital subsidy is zero in the absence, but positive in the presence of the hold-up problem.



SICI: 1121-7081(2014)28:4<359:OCTLUA>2.0.ZU;2-Y

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