Uncertainty and Labor Contract Durations

Robert Rich and Joseph Tracy

No 7731, NBER Working Papers from National Bureau of Economic Research, Inc

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 duration and inflation uncertainty, but document that this relationship extends to both measures of aggregate uncertainty. We also explore the robustness of this relationship to the various measures of inflation uncertainty that have appeared in the literature.

JEL-codes: J41 J51 (search for similar items in EconPapers)
Date: 2000-06
New Economics Papers: this item is included in nep-his, nep-lab and nep-ltv
Note: LS
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Citations: View citations in EconPapers (8)

Published as Robert Rich & Joseph Tracy, 2004. "Uncertainty and Labor Contract Durations," The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 270-287, 01.

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Journal Article: Uncertainty and Labor Contract Durations (2004)
Working Paper: Uncertainty and labor contract durations (2000)
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