Dutkowsky, Donald H; Atesoglu, H Sonmez - In: Journal of Money, Credit and Banking 25 (1993) 1, pp. 62-78
This paper investigates wage contracting in the macroeconomy. The authors derive an orthogonality condition to test for effects of long-term contracting based upon the generalized-method-of-moments estimator. To examine the viability of wage contracting within the macroeconomic structure, the...