NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Role of Pensions in the Labor Market

Alan L. Gustman, Olivia S. Mitchell, Thomas L. Steinmeier

NBER Working Paper No. 4295
Issued in March 1993
NBER Program(s):   LS   AG

Employer-sponsored group pension plans offer an unusual window into long-term employment relationships. This is because the pension promise is documented in a set of explicit statements regarding future payment and employment agreements between workers and their employers. In this paper, we show that recent research on pensions in the labor market offers considerable insight into long-term labor market arrangements. Most importantly. we explore how pensions influence employee compensation. retirement, turnover, and other matters central to the determination of labors' price and quantity over time. A number of unanswered questions. and difficult-to-reconcile empirical findings, are also outlined.

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Document Object Identifier (DOI): 10.3386/w4295

Published: "The Role of Pensions In The Labor Market: A Survey of the Literature". Industrial and Labor Relations Review, vol. 47, no.3, April 1994

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