Pensions, Efficiency Wages, and Job Mobility / Alan L. Gustman, Thomas L. Steinmeier.

Format:

Book

Author/Creator:

Gustman, Alan L.

Contributor:

National Bureau of Economic Research.

Steinmeier, Thomas L.

Series:

Working Paper Series (National Bureau of Economic Research) no. w2426.

NBER working paper series no. w2426

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1987.

Summary:

This paper finds that compensation premia and not pension backloading are responsible for the low mobility rates from jobs with pensions. Compensation premia, which may represent efficiency wages, are calculated as the difference in compensation between the current job and the best alternative job, allowing for the fact that such premia are observed only for job changers. The amount of pension backloading is calculated from data provided by employers to the Survey of Consumer Finances, greatly improving the precision of measurement over past efforts. This finding has important implications for labor market analysis and for policies concerning pension regulation.

Notes:

Print version record

November 1987.