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This document provides an introduction to trade union theory and summarizes different models of how unions can impact wages and employment. It discusses the preferences unions may have in raising wages while also caring about employment levels. Two main models are described: the labor demand curve model, where unions negotiate wages but employers determine employment, and the efficient bargain model, where both wages and employment are negotiated. The labor demand curve model predicts unions will raise wages but reduce employment and profits, while the efficient bargain model's effects are ambiguous and depend on the weight unions place on employment versus wages. Empirical evidence on unions' impact is mixed, with most studies finding they raise wages by 10-15% but evidence on employment effects is limited and inconsistent.
This document provides an introduction to trade union theory and summarizes different models of how unions can impact wages and employment. It discusses the preferences unions may have in ra…