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Estimating Strike Effects in a General Model of Prices and Quantities

Morley Gunderson and Angelo Melino
Journal of Labor Economics
Vol. 5, No. 1 (Jan., 1987), pp. 1-19
Stable URL: http://www.jstor.org/stable/2535031
Page Count: 19
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Estimating Strike Effects in a General Model of Prices and Quantities
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Abstract

Estimates of the effect of strikes on the production, price, and purchases of North American automobiles are provided over the period 1966-79. The estimates are based on a model that reflects the decisions of both consumers and producers and that captures important intertemporal adjustments before, during, and after the strike to allow for inventory buildup in anticipation of the strike as well as inventory depletion during the strike and replacement afterward. The results generally indicated that both consumers and producers rationally responded to the expected and the actual event of the strike through a variety of related intertemporal adjustments; and, while the initial effects are in some instances quite pronounced, the long-run effects are usually minimal.

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