Testing for Contracting Effects on Employment
通过观察企业与工人重新签约后就业的变化，检验长期合同中的工资刚性是否重要。研究发现重新签约后就业会反弹，尤其在汽车行业，表明合同刚性确实重要。
I test for the importance of wage rigidities from long-term contracts by observing how employment responds when firms and workers recontract. If rigidities are important, then employment should adjust after recontracting to partially undo its movements during the past contract. I examine twelve manufacturing industries that display a strong bargaining pattern. I find employment does rebound after recontracting, particularly in motor vehicles. This implies that contract rigidities are important. I also find responses in wage growth at the beginning of new contracts; but these responses are not related to the pattern of employment responses across industries.