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Encouraging long-term tenure: Wage tilt or pensions?

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  • Richard A. Ippolito
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    Abstract

    The author analyzes data on 6,416 persons in 109 firms to determine whether the length of these workers' tenure was positively related either to wage tilt-the payment of below-market wages in the early years of the worker's employment with a firm and above-market wages in the later years-or to the presence of defined benefit pension plans. Contrary to the popular (but little-tested) hypothesis that wage tilt is important in inducing workers to make long-term commitments to the firm, the results show that wage tilt had no significant effect on tenure, except indirectly through its effect on pension quit costs. In contrast, pensions increased tenure in the firm, on average, by more than 20%. (Abstract courtesy JSTOR.)

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    Bibliographic Info

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

    Volume (Year): 44 (1991)
    Issue (Month): 3 (April)
    Pages: 520-535

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    Handle: RePEc:ilr:articl:v:44:y:1991:i:3:p:520-535

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    Cited by:
    1. Leora Friedberg & Michael T. Owyang, 2004. "Explaining the evolution of pension structure and job tenure," Working Papers 2002-022, Federal Reserve Bank of St. Louis.
    2. Vincenzo Andrietti, 2004. "Pension Choices And Job Mobility In The Uk," Economics Working Papers we043713, Universidad Carlos III, Departamento de Economía.
    3. Ashok Thomas & Luca Spataro, 2013. "Pension funds and Market Efficiency: A review," Discussion Papers 2013/164, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    4. Robert L. Clark & Joseph F. Quinn, 1999. "Effects of Pensions on Labor Markets and Retirement," Boston College Working Papers in Economics 431, Boston College Department of Economics.
    5. Michael, Steven C., 1996. "To franchise or not to franchise: An analysis of decision rights and organizational form shares," Journal of Business Venturing, Elsevier, vol. 11(1), pages 57-71, January.
    6. Edward Montgomery & Kathryn Shaw, 1992. "Pensions and Wage Premia," NBER Working Papers 3985, National Bureau of Economic Research, Inc.
    7. Anna Huysse-Gaytandjieva & Wim Groot & Milena Pavlova, 2013. "A New Perspective on Job Lock," Social Indicators Research, Springer, vol. 112(3), pages 587-610, July.
    8. Sundaram, Rangarajan K. & Yermack, David, 2006. "Pay Me Later: Inside Debt and Its Role in Managerial Compensation," SIFR Research Report Series 43, Institute for Financial Research.
    9. Harley Frazis & Mark A. Loewenstein, 2009. "How Responsive are Quits to Benefits?," Working Papers 426, U.S. Bureau of Labor Statistics.
    10. Wong, Chi-Sum & Wong, Yui-tim & Hui, Chun & Law, Kenneth S., 2001. "The significant role of Chinese employees' organizational commitment: implications for managing employees in Chinese societies," Journal of World Business, Elsevier, vol. 36(3), pages 326-340, October.
    11. repec:ese:iserwp:2000-07 is not listed on IDEAS

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