TY  - JOUR
AU  - Montgomery,Edward B.
AU  - Shaw,Kathryn
AU  - Benedict,Mary Ellen
TI  - Pensions and Wages: An Hedonic Price Theory Approach
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3458
PY  - 1990
Y2  - October 1990
UR  - http://www.nber.org/papers/w3458
L1  - http://www.nber.org/papers/w3458.pdf
N1  - Author contact info:
Edward B. Montgomery
Dean, Georgetown Public Policy Institute
Georgetown University
3520 Prospect Street NW, 4th Floor
Washington DC 20007
Tel: 202/687-7051
Fax: 202/687-1904
E-Mail: ebm48@georgetown.edu

Kathryn L. Shaw
Graduate School of Business
Stanford University
Stanford, CA  94305-5015
Tel: 650/725-4168
Fax: 650/725-0468
E-Mail: kathryns@gsb.stanford.edu
AB  - This paper examines whether a tradeoff exists between the level of pension benefits and wages for comparably skilled workers. The 1983 survey of Consumer Finances is used to match detailed information on pension plans to detailed personal characteristics of a random sample of the population. The pension wage tradeoff is estimated using both a life-tine or contractual model of the labor market and the spot market model used in previous studies. The results indicate a large negative tradeoff in the contractual model but only a negligible tradeoff in the spot market model. Results from estimating the underlying structural supply and demand equation for pensions are also presented.
ER  -