Work Now, Pay Later?: An Empirical Analysis of the Pension Pay-Trade Off

Jonathan Haynes; John Sessions

Work Now, Pay Later? An Empirical Analysis of the Pension Pay-Trade Off

Jonathan Haynes, John Sessions

Department of Economics

Research output: Working paper / Preprint › Working paper

240 Downloads (Pure)

Abstract

We investigate the potential compensating differential between wages and pensions on a sample of British workers. Random effects panel regressions are run applying the Schiller and Weiss (1980) methodology to test whether a pension-wage compensating differential exists. Using data from British Household Panel Survey (BHPS) and derived prospective pension variables, calculated by the Institute for Fiscal Studies (IFS), the regression results do not support evidence for a trade off. Further analysis finds no significant differences in results between public and private sector workers, even after controlling for sample selection bias wage.

Original language	English
Place of Publication	Bath, U. K.
Publisher	Department of Economics, University of Bath
Publication status	Published - 2011

Publication series

Name	Bath Economics Research Working Papers
No.	05/11

Keywords

monitoring
tenure
efficiency wages

Access to Document

Work now pay later
© The Author
Final published version, 582 KB

Cite this

@techreport{0a198713faed42c0acb0a6abaadaa8ca,

title = "Work Now, Pay Later?: An Empirical Analysis of the Pension Pay-Trade Off",

abstract = "We investigate the potential compensating differential between wages and pensions on a sample of British workers. Random effects panel regressions are run applying the Schiller and Weiss (1980) methodology to test whether a pension-wage compensating differential exists. Using data from British Household Panel Survey (BHPS) and derived prospective pension variables, calculated by the Institute for Fiscal Studies (IFS), the regression results do not support evidence for a trade off. Further analysis finds no significant differences in results between public and private sector workers, even after controlling for sample selection bias wage.",

keywords = "monitoring, tenure, efficiency wages",

author = "Jonathan Haynes and John Sessions",

year = "2011",

language = "English",

series = "Bath Economics Research Working Papers",

publisher = "Department of Economics, University of Bath",

number = "05/11",

type = "WorkingPaper",

institution = "Department of Economics, University of Bath",

}

TY - UNPB

T1 - Work Now, Pay Later?

T2 - An Empirical Analysis of the Pension Pay-Trade Off

AU - Haynes, Jonathan

AU - Sessions, John

PY - 2011

Y1 - 2011

N2 - We investigate the potential compensating differential between wages and pensions on a sample of British workers. Random effects panel regressions are run applying the Schiller and Weiss (1980) methodology to test whether a pension-wage compensating differential exists. Using data from British Household Panel Survey (BHPS) and derived prospective pension variables, calculated by the Institute for Fiscal Studies (IFS), the regression results do not support evidence for a trade off. Further analysis finds no significant differences in results between public and private sector workers, even after controlling for sample selection bias wage.

AB - We investigate the potential compensating differential between wages and pensions on a sample of British workers. Random effects panel regressions are run applying the Schiller and Weiss (1980) methodology to test whether a pension-wage compensating differential exists. Using data from British Household Panel Survey (BHPS) and derived prospective pension variables, calculated by the Institute for Fiscal Studies (IFS), the regression results do not support evidence for a trade off. Further analysis finds no significant differences in results between public and private sector workers, even after controlling for sample selection bias wage.

KW - monitoring

KW - tenure

KW - efficiency wages

M3 - Working paper

T3 - Bath Economics Research Working Papers

BT - Work Now, Pay Later?

PB - Department of Economics, University of Bath

CY - Bath, U. K.

ER -