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An Empirical Model of Wage Indexation Provisions in Union Contracts / David Card.
- Format:
- Book
- Author/Creator:
- Card, David.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w1388.
- NBER working paper series no. w1388
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1984.
- Summary:
- Cost of living escalators are an important feature of North American labor contracts. This paper presents a measure of the response of index-linked wage increases to concurrent price increases for a sample of Canadian contracts, and then analyses this response in terms of a simple model of indexation to the aggregate price level. The model highlights the importance of aggregate price movements in conveying information about industry-specific prices. The empirical analysis confirms that industry-specific correlations between input and output prices and the Consumer Price Index are important determinants of the response of wage to prices across index contracts.
- Notes:
- Print version record
- June 1984.
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