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The Employers' Costs of Workers' Compensation Insurance: Magnitudes, Determinants, and Public Policy

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Author Info
Krueger, Alan B
Burton, John F, Jr

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Abstract

New estimates of the average cost of workers' compensation insurance for a homogeneous group of employers by state are presented. These data are used to estimate cost equations for a variety of alternative specifications. The main finding is that when cost equations are estimated by ordinary least squares there is a unit elasticity of costs with respect to benefits, but instrumental variable estimates of the effect of benefits yield a greater than unit elasticity. Finally, the presence of a state insurance fund is associated with higher average costs for employers, all else equal. Copyright 1990 by MIT Press.

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Publisher Info
Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 72 (1990)
Issue (Month): 2 (May)
Pages: 228-40
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Handle: RePEc:tpr:restat:v:72:y:1990:i:2:p:228-40

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Breusch, Trevor S & Mizon, Grayham E & Schmidt, Peter, 1989. "Efficient Estimation Using Panel Data," Econometrica, Econometric Society, vol. 57(3), pages 695-700, May. [Downloadable!] (restricted)
  2. Viscusi, W Kip & Moore, Michael J, 1987. "Workers' Compensation: Wage Effects, Benefit Inadequacies, and the Value of Health Losses," The Review of Economics and Statistics, MIT Press, vol. 69(2), pages 249-61, May. [Downloadable!] (restricted)
  3. Ronald G. Ehrenberg, 1989. "Workers' Compensation, Wages, and the Risk of Injury," NBER Working Papers 1538, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Daniel S. Hamermesh & John R. Wolfe, 1990. "Compensating Wage Differentials and the Duration of Wage Loss," NBER Working Papers 1887, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  5. Thomas J. Kniesner & John D. Leeth, 1989. "Separating the reporting effects from the injury rate effects of workers' compensation insurance: A hedonic simulation," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 42(2), pages 280-293, January.
  6. Breusch, T S & Pagan, A R, 1979. "A Simple Test for Heteroscedasticity and Random Coefficient Variation," Econometrica, Econometric Society, vol. 47(5), pages 1287-94, September. [Downloadable!] (restricted)
  7. Hausman, Jerry A. & Taylor, William E., 1981. "Panel data and unobservable individual effects," Journal of Econometrics, Elsevier, vol. 16(1), pages 155-155, May. [Downloadable!] (restricted)
  8. Hausman, Jerry A & Taylor, William E, 1981. "Panel Data and Unobservable Individual Effects," Econometrica, Econometric Society, vol. 49(6), pages 1377-98, November. [Downloadable!] (restricted)
  9. Butler, Richard J & Worrall, John D, 1983. "Workers' Compensation: Benefit and Injury Claims Rates in the Seventies," The Review of Economics and Statistics, MIT Press, vol. 65(4), pages 580-89, November. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Alan Krueger, 1999. "Labor Policy and Labor Research Since the 1960s: Two Ships Sailing in Orthogonal Directions?," Working Papers 807, Princeton University, Department of Economics, Industrial Relations Section.. [Downloadable!]
  2. repec:fth:prinin:424 is not listed on IDEAS
  3. Alan B. Krueger, 1990. "Incentive Effects of Workers' Compensation Insurance," NBER Working Papers 3089, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Kelly Edmiston, 2005. "Worker's compensation and state employment growth," Community Affairs Research Working Paper 2005-04, Federal Reserve Bank of Kansas City. [Downloadable!]
    Other versions:
  5. Alan B. Krueger, 2000. "From Bismarck to Maastricht: The March to European Union and the Labor Compact," NBER Working Papers 7456, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  6. repec:fth:prinin:428 is not listed on IDEAS
  7. Gene M. Grossman & Alan B. Krueger, 1991. "Environmental Impacts of a North American Free Trade Agreement," NBER Working Papers 3914, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  8. Alan B. Krueger & Bruce D. Meyer, 2002. "Labor Supply Effects of Social Insurance," NBER Working Papers 9014, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  9. Yoram Weiss, 1973. "The Wealth Effect in Occupational Choice," Working Papers 424, Princeton University, Department of Economics, Industrial Relations Section.. [Downloadable!]
    Other versions:
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