The Measurement of Labor Cost

by Triplett, Jack E.

• ISBN13: 9780226812564
• ISBN10: 0226812561
• Format: Hardcover
• Copyright: 1983-09-01
• Publisher: Univ of Chicago Pr

Summary

Measuring costs of labor as a portion of total production costs has never before been treated so thoroughly or so thoughtfully. Moreover, contrary to most recent labor research, this book focuses on the demand side--the employer's point of view--and the behavior studied is employer behavior. An introductory essay by the editor provides a useful guide to current thought in the analysis of labor cost. Other papers give new insights into problems encountered in accounting for the nonwage elements of labor compensation, the effect of pensions and other benefits, and the wage-measurement questions raised by incomes policies. In addition, there is a wealth of valuable new data on labor costs in the United States. Labor economists, statisticians, econometric modelers, and advisers to government and industry will welcome this up-to-date and comprehensive treatment of the costs of production.

Author Biography

Jack E. Triplett is associate commissioner for research and evaluation, U.S. Bureau of Labor Statistics.

Table of Contents

Prefatory Note

Introduction: An Essay on Labor Cost

Overview: Concepts, Methodology, and Data

The Fixed Employment Costs of Specialized Labor Walter

Structural Estimation in Implicit Markets

Analysis of Labor Cost: Data Concepts and Sources

Measures of Aggregate Labor Cost in the United States

Sectoral Measures of Labor Cost for the United States, 1948-1978

The Size Distribution of Wage and Nonwage Compensation: Employer Cost versus Employee Value

New Measures of Labor Cost: Implications for Demand Elasticities and Nominal Wage Growth

Intermetropolitan Wage Differentials in the United States George

Imputing Income in the CPS: Comments on "Measures of Aggregate Labor Cost in the United States"

Pensions and Benefits as Labor Cost Components

Estimating Wage-Fringe Trade-Offs: Some Data Problems

Fringe Benefits in Employee Compensation

The Effect of Pension Plans on the Pattern of Life Cycle Compensation

Labor Cost Measures and Economic Policy Analysis

Measuring Labor Compensation in Controls Programs

Wage Measurement Questions Raised by an Incomes Policy

Data

Appendixes

Current and Historical Availability of BLS Wage, Price, and Productivity Series by SIC Industries

Sectoral Labor Input

Labor Cost Series, Manufacturing and Private Business, 1953-1980

List of Contributors

Author Index

Subject Index

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