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Unions, Employment Risks, and Market Provision of Employment Risk Differentials

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  • Moore, Michael J
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    Abstract

    The role of unions in providing compensating differentials for wage and hours risk is analyzed. Unions are shown to increase wages for workers in more risky jobs. A negative compensating differential for nonunion workers is taken as evidence of worker-specific, or supply-side risk. This component of risk is removed by controlling for union status, based on the belief that unionized firms will be more likely to filter out high-risk unproductive workers. Hours risk is compensated for in the labor market, while wage risk is not. Copyright 1995 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Journal of Risk and Uncertainty.

    Volume (Year): 10 (1995)
    Issue (Month): 1 (January)
    Pages: 57-70

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    Handle: RePEc:kap:jrisku:v:10:y:1995:i:1:p:57-70

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    Web page: http://www.springerlink.com/link.asp?id=100299

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    Cited by:
    1. Bonin, Holger & Dohmen, Thomas & Falk, Armin & Huffman, David & Sunde, Uwe, 2007. "Cross-sectional earnings risk and occupational sorting: The role of risk attitudes," Labour Economics, Elsevier, vol. 14(6), pages 926-937, December.
    2. Hartog, Joop & Vijverberg, Wim P.M., 2007. "On compensation for risk aversion and skewness affection in wages," Labour Economics, Elsevier, vol. 14(6), pages 938-956, December.
    3. Stefan Arent & Wolfgang Nagl, 2011. "The Price of Security: On the Causality and Impact of Lay-off Risks on Wages," Ifo Working Paper Series Ifo Working Paper No. 100, Ifo Institute for Economic Research at the University of Munich.
    4. Angela Cipollone, 2011. "Education as a Precautionary Asset," Working Papers CELEG 1108, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    5. Wolfgang Nagl, 2014. "Lohnrisiko und Altersarmut im Sozialstaat," ifo Beitr├Ąge zur Wirtschaftsforschung, Ifo Institute for Economic Research at the University of Munich, number 54.
    6. Seeun Jung & Kenneth Houngbedji, 2014. "Shirking, Monitoring, and Risk Aversion," PSE Working Papers halshs-00965532, HAL.
    7. Ragui Assaad & Insan Tunali, 2000. "Wage Formation and Recurrent Unemployment," Econometric Society World Congress 2000 Contributed Papers 1623, Econometric Society.
    8. Assaad, Ragui & Tunali, Insan, 2002. "Wage formation and recurrent unemployment," Labour Economics, Elsevier, vol. 9(1), pages 17-61, February.
    9. Wolfgang Nagl, 2013. "Better safe than sorry? The effects of income risk, unemployment risk and the interaction of these risks on wages," ERSA conference papers ersa13p237, European Regional Science Association.

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