Inflation Uncertainty and Contract Duration

Susan Vroman

The Review of Economics and Statistics, 1989, vol. 71, issue 4, 677-81

Abstract: This study examines the determinants of the duration of U.S. union contracts using a longitudinal contract data base. Support is found for the hypotheses that (1) inflation uncertainty reduces contract length and that (2) greater contracting costs, as proxied by a strike variable and by previous duration, increase contract length. In addition, contract duration is found to be greater for indexed contracts, to be procyclical, and to have increased over the sample period. Copyright 1989 by MIT Press.

Date: 1989
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