Uncertainty and labor contract durations

Robert Rich and Joseph Tracy

No 106, Staff Reports from Federal Reserve Bank of New York

Abstract: This paper provides an empirical investigation into the relationship between ex ante U.S. labor contract durations and uncertainty over the period 1970 to 1995. We construct measures of inflation uncertainty as well as aggregate nominal and real uncertainty. The results not only corroborate previous findings of an inverse relationship between contract durations and inflation uncertainty, but also document that this relationship extends to both measures of aggregate uncertainty. We also explore the robustness of this relationship to various measures of inflation uncertainty that have appeared in the literature.

Keywords: labor contracts; Inflation (Finance) (search for similar items in EconPapers)
Date: 2000
New Economics Papers: this item is included in nep-ind and nep-lab
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Citations: View citations in EconPapers (7)

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Related works:
Journal Article: Uncertainty and Labor Contract Durations (2004)
Working Paper: Uncertainty and Labor Contract Durations (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fednsr:106

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