The purpose of these essays is to test empirically a model of wage contract duration developed by Gray (1978). The focus is on wage agreements negotiated between unions and firms.In most contract length models negotiating agents seek to minimize an objective function comprised of costs...

A new approach to cointegration developed by Enders et al. (Cointegration tests using instrumental variables with an example of the U.K. demand for money. Unpublished working paper. http://wenders.people.ua.edu/time-series-methods.html, 2008) is applied to long-span, high-frequency data to test...