Delays in renewal of labor contracts: Theory and evidence

• 成果类型: Article
• 署名作者: Danziger, L; Neuman, S
• 署名单位: Ben-Gurion University of the Negev; Central European University; Bar Ilan University
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/428027
• 发表日期: 2005
• 页码: 341-371
• 关键词: Rational expectations; duration; determinants; length; MODEL; specification; econometrics; uncertainty; indexation; AGREEMENTS

摘要

In many countries, an expired labor contract is automatically extended during the often-protracted delay before the new contract is signed. Our theoretical model focuses on macroeconomic factors in explaining the delay. It emphasizes the importance of the realized nominal and real shocks, and of the levels of nominal and real uncertainty. The model is tested using Israeli collective wage agreements where long delays are frequent. The empirical findings strongly support the theoretical model. Thus, nominal uncertainty is found to increase the delay, and real uncertainty to decrease the delay, but less in the public than in the private sector.