Lump-sum payments and profit-sharing plans in the union sector of the United States economy
Article Abstract:
The effect of a rise of lump-sum payments and profit-sharing plans on labor costs and labor union contracts is examined. Profit-sharing can help reduce labor cost growth by as much as 5% per year, while increasing employment growth. Lump-sum payments do not increase employment growth or lower the cost of labor because payments are not viewed as form or performance-related pay. Increased use of lump-sum payments and profit-sharing are contributing factors for a structured shift in the aggregate labor cost determination.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1993
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Are rising earnings profiles a forced-saving mechanism?
Article Abstract:
Several approaches have been proposed to explain the finding that earnings rise over the life-cycle. One of these explanations is the forced-saving hypothesis, which states that workers prefer rising consumption patterns over time, but are poor savers. Thus, workers require higher earnings profiles over time. This hypothesis is tested by researching evidence on workers' preferences for rising wages and, therefore, for forced saving. Regression estimates of earnings provide support for this hypothesis.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1995
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Leaving teaching in the UK: a duration analysis
Article Abstract:
The impact of salaries and opportunity costs for UK teachers' decision to stay in their field are examined. Teacher retention and turnover are measured against the average salary of a graduate who entered another profession as an opportunity cost. Relative earnings were shown to condition teaching tenure and supply in the UK. These results substantiated the importance of duration dependence structure and covariate efficient estimates in duration models.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1995
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