Uncertainty and labor contract durations
By: Robert Rich and Joe Tracy.
Contributors: Tracy, Joseph.; Federal Reserve Bank of New York.
Series: Staff reports ;; no. 106; Staff reports (Federal Reserve Bank of New York : Online) ;; no. 106.
Publisher: Federal Reserve Bank of New York
Published: 2000
Place of publication: [New York, N.Y.]
Language: eng
Format: Electronic resource
Subjects: Labor contract.; Inflation (Finance)
Description: "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"--Federal Reserve Bank of New York web site.
Notes: Includes bibliographical references.
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