From First Principles, one of the key implications of standard labour economic theory is that workers should be paid their marginal product. Pay that is tied to a worker’s performance, therefore, would seem to provide the most direct link to satisfy this theoretical requirement (Lazear, 1986)....

This study, using individual worker data on janitors taken from the 1985-2001 Current Population Survey and industry injury data from the Bureau of Labor Statistics, examines whether compensation for working in a high-risk work environment contributes to the relatively high wage rates of...

Pension integration is the ability to allow differentiated pension benefits across earnings groups. In the academic literature, it is often described as a way for firms to reduce pension benefits (and therefore costs). Justified by the requirement that firms pay half of Social Security payments,...

This study, using individual worker data on janitors taken from the 1985–2001 Current Population Survey and industry injury data from the Bureau of Labor Statistics, examines whether compensation for working in a high-risk work environment contributes to the relatively high wage rates of...

Many studies have found that unionized workers express less job satisfaction than nonunion workers. The “exit-voice†explanation of this phenomenon is that dissatisfied nonunion workers tend to quit, whereas dissatisfied union workers tend to remain in their jobs and express their...

Income replacement after retirement is an increasingly important economic policy area of social concern. This study examines three different measures of replacement income, including the effect of taxes on the estimated replacement rates of new retirees in the Health and Retirement Study. An...

This paper estimates the propensity to retire and the persistence of remaining retired once the decision to retire has been made in the US labour market, using a dynamic panel probit model. The estimated income effect of higher housing wealth is virtually zero and that of financial assets wealth...

While previous economic research focuses on the financial well-being of retirees, this paper examines the determinants of overall well-being of retirees. Using data from the 2000 Health and Retirement Study, the strongest predictor of retirement well-being is the reason for entering retirement....

This article compares the Unemployment Rate (UR) as a measure of inefficiency with several other potential measures across 18 Organization for Economic Co-operation and Development (OECD) countries. Results show that the UR is not a very good measure of relative inefficiency between countries,...

This paper examines a wide range of determinants of retiree well-being of retirees. Using data from the 2000 Health and Retirement Study, increases in economic factors such as income lead to higher well-being, although relative income has a larger effect than absolute income. The strongest...