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Unions, Employment Risks, and Market Provision of Employment Risk Differentials

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  • Moore, Michael J

Abstract

The role of unions in providing compensating differentials for wage and hours risk is analyzed. Unions are shown to increase wages for workers in more risky jobs. A negative compensating differential for nonunion workers is taken as evidence of worker-specific, or supply-side risk. This component of risk is removed by controlling for union status, based on the belief that unionized firms will be more likely to filter out high-risk unproductive workers. Hours risk is compensated for in the labor market, while wage risk is not. Copyright 1995 by Kluwer Academic Publishers

Suggested Citation

  • Moore, Michael J, 1995. "Unions, Employment Risks, and Market Provision of Employment Risk Differentials," Journal of Risk and Uncertainty, Springer, vol. 10(1), pages 57-70, January.
    • Handle: RePEc:kap:jrisku:v:10:y:1995:i:1:p:57-70
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    Citations

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    Cited by:

    1. Wolfgang Nagl, 2012. "Better Safe than Sorry? The Effects of Income Risk, Unemployment Risk and the Interaction of these Risks on Wages," ifo Working Paper Series 148, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    2. Wolfgang Nagl, 2012. "Wage Compensations Due to Risk Aversion and Skewness Affection – German Evidence," ifo Working Paper Series 145, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    3. Sarah Brown & Aurora Ortiz‐Nuñez & Karl Taylor, 2012. "Parental Risk Attitudes and Children's Academic Test Scores: Evidence from the US P anel S tudy of I ncome D ynamics," Scottish Journal of Political Economy, Scottish Economic Society, vol. 59(1), pages 47-70, February.
    4. Seeun Jung & Kenneth Houngbedji, 2014. "Shirking, Monitoring, and Risk Aversion," PSE Working Papers halshs-00965532, HAL.
    5. Grove, Wayne A. & Jetter, Michael & Papps, Kerry L., 2018. "Career Lotto: Labor Supply in Winner-Take-All Markets," IZA Discussion Papers 12012, Institute of Labor Economics (IZA).
    6. Bonin, Holger & Dohmen, Thomas & Falk, Armin & Huffman, David & Sunde, Uwe, 2007. "Cross-sectional earnings risk and occupational sorting: The role of risk attitudes," Labour Economics, Elsevier, vol. 14(6), pages 926-937, December.
    7. Danielle Lamb & Rafael Gomez & Milad Moghaddas, 2022. "Unions and hazard pay for COVID‐19: Evidence from the Canadian Labour Force Survey," British Journal of Industrial Relations, London School of Economics, vol. 60(3), pages 606-634, September.
    8. Angela Cipollone, 2011. "Education as a Precautionary Asset," Working Papers CELEG 1108, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    9. Hartog, Joop & Vijverberg, Wim P.M., 2007. "On compensation for risk aversion and skewness affection in wages," Labour Economics, Elsevier, vol. 14(6), pages 938-956, December.
    10. SeEun Jung, 2017. "The gender wage gap and sample selection via risk attitudes," International Journal of Manpower, Emerald Group Publishing Limited, vol. 38(2), pages 318-335, May.
    11. Seeun JUNG, 2014. "Risk Attitudes and Shirking on the Quality of Work under Monitoring: Evidence from a Real-Effort Task Experiment," THEMA Working Papers 2014-26, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    12. Assaad, Ragui & Tunali, Insan, 2002. "Wage formation and recurrent unemployment," Labour Economics, Elsevier, vol. 9(1), pages 17-61, February.
    13. Jung, SeEun & Choe, Chung & Oaxaca, Ronald L., 2018. "Gender wage gaps and risky vs. secure employment: An experimental analysis," Labour Economics, Elsevier, vol. 52(C), pages 112-121.
    14. José Vieira & Carolina Constância & João Teixeira, 2020. "Education and risk compensation in wages: a quantile regression approach," Applied Economics Letters, Taylor & Francis Journals, vol. 27(3), pages 194-198, February.
    15. Andrea Baranzini & Giovanni Ferro Luzzi, 2001. "The Economic Value of Risks to Life: Evidence from the Swiss Labour Market," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 137(II), pages 149-170, June.
    16. Stefan Arent & Wolfgang Nagl, 2011. "The Price of Security: On the Causality and Impact of Lay-off Risks on Wages," ifo Working Paper Series 100, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    17. Wolfgang Nagl, 2014. "Better Safe than Sorry? The Effects of Income Risk and Unemployment Risk on Wages," LABOUR, CEIS, vol. 28(3), pages 251-268, September.
    18. Wolfgang Nagl, 2014. "Lohnrisiko und Altersarmut im Sozialstaat," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 54.

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