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Stayers as "Workers" and "Savers": Toward Reconciling the Pension-Quit Literature

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  • Richard A. Ippolito
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    Abstract

    The classic selection effect posits that deferred wages attract "stayers." The results in this paper suggest an alternative explanation. Deferred wage contracts attract "savers." All else constant, savers are better workers than nonsavers. A firm naturally works harder to retain better workers, and thus, is led to pay them higher wages; thereby encouraging savers to remain in the firm's employ. This process creates a confluence of deferred wages, high levels of compensation and low quit propensities. In this explanation, "staying" is merely the result of a selection process, and not the underlying factor that drives selection.

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    Bibliographic Info

    Article provided by University of Wisconsin Press in its journal Journal of Human Resources.

    Volume (Year): 37 (2002)
    Issue (Month): 2 ()
    Pages: 275-308

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    Handle: RePEc:uwp:jhriss:v:37:y:2002:i:2:p:275-308

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    Web page: http://jhr.uwpress.org/

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    Cited by:
    1. Tuuli Juurikkala & Olga Lazareva, 2006. "Non-wage benefits, costs of turnover, and labor attachment: evidence from Russian firms," Working Papers w0062, Center for Economic and Financial Research (CEFIR).
    2. Anja Decressin & Julia Lane & Kristin McCue & Martha Stinson, 2005. "Employer-Provided Benefit Plans, Workforce Composition and Firm Outcomes," Longitudinal Employer-Household Dynamics Technical Papers 2005-01, Center for Economic Studies, U.S. Census Bureau.
    3. Gopi Shah Goda & Damon Jones & Colleen Manchester, 2013. "Retirement Plan Type and Employee Mobility: The Role of Selection and Incentive Effects," Discussion Papers 13-018, Stanford Institute for Economic Policy Research.
    4. 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.
    5. Keenan Dworak-Fisher, 2008. "Encouraging Participation in 401(k) Plans: Reconsidering the Employer Match," Working Papers 420, U.S. Bureau of Labor Statistics.

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