Early contract renegotiation: an analysis of US labor contracts,1970 - 1995/ created by Robert Rich and Joseph Tracy

By:

Rich, Robert W [author]

Contributor(s):

Tracy, Joseph S [co author]

Material type: Text

TextSeries: Journal of labor economics ; Volume 31, number 4Chicago: University of Chicago Press, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

0734306X

Subject(s):

Collective agreement | -- Inflation | -- Negotiations -- 1970-1995 -- United States

LOC classification:

HD5706 JOU

Online resources:

Click here to access online

Abstract: his article examines the ex post flexibility of US labor contracts during the 1970–95 period by investigating whether unanticipated changes in inflation increase the likelihood of a contract being renegotiated prior to its expiration. We find empirical support for this hypothesis. Specifically, our results indicate that renegotiations are triggered principally by large and infrequent price shocks of either sign. When combined with evidence that ex ante contract durations are shorter during episodes of increased inflation uncertainty, our results suggest that these contracts are flexible both ex ante and ex post to changes in the evolution of inflation.

Reviews from LibraryThing.com:

Tags from this library: No tags from this library for this title. Log in to add tags.

Average rating: 0.0 (0 votes)

Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HD5706 JOU (Browse shelf(Opens below))	Vol. 31, no.4 (pages 785-825)	SP17577	Not for loan	For In House Use Only

Browsing Main Library shelves, Shelving location: - Special Collections Close shelf browser (Hides shelf browser)

Previous	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	Next
Previous	HD5706 JOU Borrowing constraints, college enrollment, and delayed entry/	HD5706 JOU The effect of employment protection on teacher effort/	HD5706 JOU Is it live or is it internet? experimental estimates of the effects of online instruction on student learning/	HD5706 JOU Early contract renegotiation: an analysis of US labor contracts,1970 - 1995/	HD5706 LOU Assortative mating and female labor supply/	HD5706 LOU Unions and workers' welfare in Chinese firms/	HD5708.H38 MPO Precarious nature of employment in Zimbabwe :	Next

his article examines the ex post flexibility of US labor contracts during the 1970–95 period by investigating whether unanticipated changes in inflation increase the likelihood of a contract being renegotiated prior to its expiration. We find empirical support for this hypothesis. Specifically, our results indicate that renegotiations are triggered principally by large and infrequent price shocks of either sign. When combined with evidence that ex ante contract durations are shorter during episodes of increased inflation uncertainty, our results suggest that these contracts are flexible both ex ante and ex post to changes in the evolution of inflation.

There are no comments on this title.

to post a comment.

here