TY  - JOUR
AU  - Gustman,Alan L.
AU  - Steinmeier,Thomas L.
TI  - Pensions, Efficiency Wages, and Job Mobility
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2426
PY  - 1987
Y2  - November 1987
UR  - http://www.nber.org/papers/w2426
L1  - http://www.nber.org/papers/w2426.pdf
N1  - Author contact info:
Alan L. Gustman
Department of Economics
Dartmouth College
Hanover, NH  03755-3514
Tel: 603/646-2641
Fax: 603/646-2122
E-Mail: ALAN.L.GUSTMAN@DARTMOUTH.EDU
M2  - featured in NBER digest on 1991-03-01
AB  - 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.
ER  -