IDEAS home Printed from https://ideas.repec.org/a/fek/papers/doi10.5085-jfe.25.1.17.html
   My bibliography  Save this article

Structural Growth in Labor Costs: Evidence from the Employment Cost Index

Author

Listed:
  • Gary R. Albrecht
  • Kurt V. Krueger

Abstract

Wage growth forecasting is a necessary part of forensic economics. In this paper, we present a time series methodology to test whether wage and compensation growth in the United States varies by industry and occupation. If growth varies, then the common use of “all-worker” net discount or wage growth rates would not be accurate for every forensic economic case. Using the Employment Cost Index, we find that total compensation, wage, and benefit growth in some, but not all, industries and occupations has been significantly different from that of the wage growth of all workers. That finding may concern the forensic economist who needs to construct a variety of net discount or wage growth rates. As an alternative to constructing multiple forecasts, this paper provides estimated industry and occupational specific differentials from the growth in all workers' wages.

Suggested Citation

  • Gary R. Albrecht & Kurt V. Krueger, 2014. "Structural Growth in Labor Costs: Evidence from the Employment Cost Index," Journal of Forensic Economics, National Association of Forensic Economics, vol. 25(1), pages 17-24, April.
    • Handle: RePEc:fek:papers:doi:10.5085/jfe.25.1.17
    DOI: 10.5085/jfe.25.1.17
    as

    Download full text from publisher

    File URL: http://www.journalofforensiceconomics.com/doi/abs/10.5085/jfe.25.1.17
    Download Restriction: no
    File URL: http://www.journalofforensiceconomics.com/doi/pdf/10.5085/jfe.25.1.17
    Download Restriction: no
    File URL: https://libkey.io/10.5085/jfe.25.1.17?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    JEL classification:

    • K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fek:papers:doi:10.5085/jfe.25.1.17. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kurt Krueger (email available below). General contact details of provider: https://edirc.repec.org/data/nafeeea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.