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| Tekijä: | Card, D. |
| Otsikko: | Unexpected inflation, real wages, and employment determination in union contracts |
| Lehti: | American Economic Review
1990 : SEP, VOL. 80:4, p. 669-688 |
| Asiasana: | TRADE UNIONS INDUSTRIAL RELATIONS EMPLOYMENT CONTRACTS WAGE DETERMINATION INFLATION |
| Kieli: | eng |
| Tiivistelmä: | The effect of nominal contracting position on employment determination in union contracts is investigated. In most contracts the nominal wage rate is wholly or partially predetermined. Therefore, real wage rates contain unanticipated components reflecting unexpected price changes and the degree of indexation. The empirical analysis, based on a large sample of indexed and nonindexed contracts, suggests that unexpected real wage changes are associated with systematic employment responses in the opposite direction. It was concluded that nominal contracting provisions play a potential important role in the cyclic properties and persistence of employment movements in the union sector. |
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