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The impact of market structure on wages, fringe benefits, and turnover

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Author Info
James E. Long
A. N. Link

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Abstract

This paper examines the relationship between labor compensation and the structure of the product market, which is measured by the industry concentration ratio and by dummy variables for the existence and type of government regulation. Unlike previous studies that have estimated the impact of concentration and regulation on wages or earnings, this study extends the analysis to include the effect of market structure on employer-provided pensions and insurance and on voluntary labor turnover. The hypothesis that product market power raises labor compensation is supported by empirical results indicating that concentration increases wages and fringes but lowers voluntary labor turnover. Regulations that set minimum prices and restrict entry raise labor compensation, since wage premiums due to regulation are not offset by lower pensions and insurance or higher turnover. Other forms of regulation, such as profit regulation in public utilities, are found to reduce labor compensation, as evidenced by higher turnover or lower wages and fringes, or both. (Abstract courtesy JSTOR.)

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Publisher Info
Article provided by ILR Review, ILR School, Cornell University in its journal ILR Review.

Volume (Year): 36 (1983)
Issue (Month): 2 (January)
Pages: 239-250
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Handle: RePEc:ilr:articl:v:36:y:1983:i:2:p:239-250

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  1. Hvide, Hans K. & Kristiansen, Eirik G., 2006. "Management of Knowledge Workers," Discussion Papers 2006/7, Department of Finance and Management Science, Norwegian School of Economics and Business Administration. [Downloadable!]
    Other versions:
  2. William T. Dickens & Lawrence F. Katz, 1987. "Inter-Industry Wage Differences and Theories of Wage Determination," NBER Working Papers 2271, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Lloyd Ulman, 1992. "Why Should Human Resource Managers Pay High Wages?," Institute for Research on Labor and Employment, Working Paper Series 1065, Institute of Industrial Relations, UC Berkeley. [Downloadable!]
  4. Aparna Mitra, 1999. "Structural characteristics of firms and industries and black and white wage inequality in the U.S. economy: 1988," Atlantic Economic Journal, International Atlantic Economic Society, vol. 27(2), pages 179-192, June. [Downloadable!] (restricted)
  5. Good, D. & Nadiri, M.I. & Sickles, R., 1996. "Index Number and Factor Demand Approaches to the Estimarion of Productivity," Working Papers 96-34, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
    Other versions:
  6. William T. Dickens & Lawrence F. Katz, 1987. "Interindustry Wage Differences and Industry Characteristics," NBER Working Papers 2014, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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