Pensions and Wages: An Hedonic Price Theory Approach

Montgomery, Edward; Shaw, Kathryn; Benedict, Mary Ellen

doi:10.2307/2526986

Cited by 41 publications

(24 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Finally, Dorsey (1989) reported pension wage premiums ranging from 12 % to 29% based on wage regressions from four widely used data sets. Montgomery, Shaw, and Benedict (1992) did find a negative pension coefficient; however, the coefficient was not always statistically significant and the estimated trade-off was less than dollar-for-dollar.14 13Note that some of this rent will be a compensating wage premium to offset the cost of reduced mobility and flexibility (Ippolito 1994). 14It should be noted that single-equation estimates may be biased upward.…”

Section: Indirect Evidencementioning

confidence: 99%

Pension Portability and Labor Market Efficiency: A Survey of the Literature

Dorsey¹

1995

ILR Review

View full text Add to dashboard Cite

This paper reviews the theoretical and empirical literature evaluating the labor market effects of policies to enhance pension portability. One perspective is that reducing the cost of job change will result in a more efficient allocation of workers. In contrast, long-term employment contract models suggest that incentives established by nonportable pensions may enhance efficiency by discouraging quits when there are job-specific productivity gains. No empirical studies have produced estimates conclusively showing that workers covered by pensions are more productive than other workers. Various indirect evidence, however-for example, on the relationship between pensions and wages, the pattern of pension coverage across workers and jobs, and the effect of pensions on layoffs-is consistent with pension-related productivity gains.

show abstract

Section: Indirect Evidencementioning

confidence: 99%

Pension Portability and Labor Market Efficiency: A Survey of the Literature

Dorsey¹

1995

ILR Review

View full text Add to dashboard Cite

show abstract

“…However, identification of exogenous instruments has been a real problem. Thus, the leading work in this area, Montgomery, Shaw, and Benedict (1992), for exam ple, uses pension characteristics as instruments in the estimation. The pension plan features are jointly determined with the wage and pension level, however, and are thus endogenously determined.…”

Section: Unresolved Issuesmentioning

confidence: 99%

Pension Incentives and Job Mobility

Gustman¹,

Steinmeier²

1995

View full text Add to dashboard Cite

“…Dorsey (1989) found pen sion wage premiums ranging from 12 to 29 percent based on wage regressions from four widely used data sets. Montgomery, Shaw, and Benedict (1992) found a negative pension coefficient; however, the coefficient was not always statistically significant and the estimated trade-off was less than dollar-for-dollar.5…”

Section: Pensions and Wagesmentioning

confidence: 95%