Danziger, Leif; Neuman, Shoshana - Institute for the Study of Labor (IZA) - 2003
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 … model. Thus, nominal uncertainty is found to increase the delay, and real uncertainty to decrease the delay, but less in the …