Uncertainty and Labor Contract Durations / Robert Rich, Joseph Tracy.

Format:

Book

Author/Creator:

Rich, Robert.

Contributor:

National Bureau of Economic Research.

Tracy, Joseph.

Series:

Working Paper Series (National Bureau of Economic Research) no. w7731.

NBER working paper series no. w7731

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2000.

Summary:

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.

Notes:

Print version record

June 2000.