The Degree of Indexation in Major U.S. Union Contracts
Bibliographic Data
| ID | 7801640 |
|---|---|
| Authors | Roger T Kaufman (Amherst College), Geoffrey Woglom |
| Year | 1986 |
| Volume | 39 |
| Issue | 3 |
| Pages | 439 |
| Publication date | 1986-04-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Industrial and Labor Relations Review (JOURNAL) |
| Journal identifiers | ISSN: 0019-7939 • E-ISSN: 2162-271X |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2524102 |
| OpenAlex | W4230832012 |
| ISBN | 9793986039003 |
| Language | EN |
| Citations received | 2 |
| References cited | 6 |
The authors propose that the most appropriate measure of the degree of indexation in a union contract is the marginal elasticity of the average expected wage during the life of the contract with respect to unanticipated changes in the price level. They present estimates of this elasticity for 68 U.S. contracts negotiated between 1971 and 1983 with cost-of-living escalators. The average degree of indexation in the sample, .48, is considerably smaller than previous estimates of similar marginal elasticities because the estimation method more accurately incorporates caps, minimum COLAs, and the exact specification of the COLA clauses
Degree (music) · Econometrics · Economics · Elasticity (physics) · Indexation · Keynesian economics · Labour economics · Macroeconomics · Marginal cost · Marginal utility · Microeconomics · Monetary policy · Physics · Wage · Consumer Market Behavior and Pricing · European and International Contract Law · Law, Economics, and Judicial Systems · Mathematics · Merger and Competition Analysis · Taxation and Legal Issues · Transport and Economic Policies
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,06 |
| Citation span | 1992 - 1994 (3) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |