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Wage stagnation and the legacy costs of employment

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  • Brian Bell

Abstract

Although UK real wages have been stagnant for over a decade, there has been a notable increase in nonwage compensation. But as Brian Bell reveals, this rise consists largely of special payments to fund deficit gaps in 'defined benefit' pension schemes - and most of these schemes have been closed to new members for years.

Suggested Citation

  • Brian Bell, 2015. "Wage stagnation and the legacy costs of employment," CentrePiece - The magazine for economic performance 458, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepcnp:458
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    File URL: https://cep.lse.ac.uk/pubs/download/cp458.pdf
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    Citations

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    Cited by:

    1. David Autor & David Dorn & Lawrence F Katz & Christina Patterson & John Van Reenen, 2020. "The Fall of the Labor Share and the Rise of Superstar Firms [“Automation and New Tasks: How Technology Displaces and Reinstates Labor”]," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(2), pages 645-709.
    2. Andreas Teichgraber & John Van Reenen, 2021. "Have Productivity and Pay Decoupled in the UK?," International Productivity Monitor, Centre for the Study of Living Standards, vol. 41, pages 31-60, Fall.
    3. De Loecker, Jan & Obermeier, Tim & Van Reenen, John, 2022. "Firms and inequality," LSE Research Online Documents on Economics 117827, London School of Economics and Political Science, LSE Library.

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