The Effects of Shock Size and Type on Labor‐Contract Duration
研究不确定性对工会与企业合同期限的影响，发现石油冲击显著影响美国21个制造业中7个行业的合同长度，并部分支持大冲击不确定性增加可重开合同期限的假说。
Empirical studies of the relation between uncertainty and the length of union-firm contracts have focused on the effects of inflation, money-supply, or industry-specific uncertainty. This article describes two extensions of previous work. First, real, aggregate uncertainty arising from oil shocks is incorporated into a contract-duration model. Oil shocks significantly affect contract length in seven of 21 U.S. manufacturing industries. Second, the model is used to test whether the duration of reopenable bargains is positively related to uncertainty associated with large shocks, as has been described in Danziger. The evidence indicates some qualified support for this proposition. Copyright 2001 by University of Chicago Press.