[PEN-L:3814] Labor Abstracts -- Edited by Michael Gibbs and Edward Lazear (fwd)

[D Shniad <shniad@xxxxxx>]

Forwarded message:
Date: Wed, 17 Apr 1996 05:39:58 -0600
From: Wayne Marr <Wayne_Marr@xxxxxxxx>
Subject: Labor Abstracts -- Edited by Michael Gibbs and Edward Lazear
Sender: Forum on Labor in the Global Economy <LABOR-L@xxxxxxxx>
Reply-to: Forum on Labor in the Global Economy <LABOR-L@xxxxxxxx>

     Dear Colleagues: I am proud to send you the first issue of
     Labor Abstracts, edited by Michael Gibbs, University of
     Chicago and Edward Lazear of Stanford. Please direct comments
     to Michael_Gibbs@xxxxxxxx or Edward_Lazear@xxxxxxxx

            To subscribe to ERN, please visit our Web Site
            http://www.SSRN.Com/ or contact Sherry@xxxxxxxx

     ____________________________________________________________

                           LABOR ABSTRACTS

                        Working Paper Series

                  Volume 1 Number 1: April 17, 1996


     Publisher:     The Economics Research Network (ERN)

                    a division of
                    Social Science Electronic Publishing, Inc.,
                    (SSEP, Inc.) and Social Science Research
                    Network (SSRN)

     Editors:       Michael Gibbs
                    University of Chicago and
                    University of Michigan

                    and

                    Edward Lazear
                    Graduate School of Business
                    Stanford University

     Copyright:     SSEP, Inc. 1996, All rights reserved.


     NOTE FROM THE EDITORS

     Labor Abstracts will publish abstracts of working papers
     and papers accepted for publication in academic journals,
     on topics related to labor markets and the employment
     relationship. Examples include (but are not limited to)
     agency theory, data-quality, demography, discrimination,
     human capital and wage determination, human resource
     management, immigration, industrial relations, internal
     labor markets, labor econometrics, labor/employment law,
     labor supply, program evaluation, and personnel.

     Though academic fields tend to be specialized, we hope
     that Labor Abstracts will also be a forum for inter-
     disciplinary communication. Therefore, we encourage
     submissions from scholars in related disciplines. We also
     encourage submissions from international scholars.

     There is great potential for the Internet to aid research
     dissemination and communication in new ways. We are very
     interested in your ideas, comments, and suggestions for
     improving and evolving Labor Abstracts; please send them to
     Michael_Gibbs@xxxxxxxx and Edward_Lazear@xxxxxxxx


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     T  A  B  L  E   of   C  O  N  T  E  N  T  S
     ____________________________________________________________


     "The Effect of ESOP Benefits and Employee Participation on
      Effort and Cooperation"

          JOSEPH E. COOPER         Dartmouth College


     "The Complexity of Job Mobility Among Young Men"

          DEREK A. NEAL            University of Chicago and NBER


     "When Knowledge is an Asset: Explaining the Organizational
      Structure of Large Law Firms"

          JAMES B. REBITZER        MIT
          LOWELL J. TAYLOR         Carnegie Mellon University


     "Labor Market Outcomes for Persons with Long Term
      Disabilities and College Educations"

          WALLACE HENDRICKS        University of Illinois
          CHRISANN SCHRIO-GEIST    University of Illinois
          EMIR BROADBENT           Buena Vista University

     ____________________________________________________________

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     Unless noted, papers are available only from the author.
     Please provide your postal address, and mention that you saw
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     ____________________________________________________________

     W O R K I N G  Paper Abstracts


     "The Effect of ESOP Benefits and Employee Participation on
      Effort and Cooperation"

     BY: JOSEPH E. COOPER
            Dartmouth College

          Date:     November 1, 1995

          Contact:  Joseph E. Cooper
          E-Mail:   joseph.cooper@xxxxxxxxxxxxx
          Postal:   Amos Tuck School, Dartmouth College,
                    Hanover, NH 03755
          Phone:    (603) 646-3937
          Fax:      Not Available
          ERN Ref:  LABOR:WPS96-101

     I develop a model in which the level of cooperation and
     effort supplied by an employee is determined by the level of
     benefits allocated to an employee's ESOP account and his
     individual merit pay. Specifically, it is hypothesized that
     as an employee receives greater benefits from the ESOP, and
     perceives his level of involvement at the firm is
     significant, the level of cooperation supplied rises. The
     implications of the model are contrasted with the efficiency
     wage hypothesis. These competing models are tested with a
     unique dataset of 684 employees at 28 firms with an ESOP.
     The findings are generally consistent with the efficiency
     wage hypothesis, and with some implications of the effort-
     cooperation theory.

     JEL Classification: J50, J54, J3

     ++++++++++++++++++


     "The Complexity of Job Mobility Among Young Men"

     BY: DEREK A. NEAL
            University of Chicago and NBER

          Date:     March 1996

          Contact:  Derek A. Neal
          E-Mail:   dan9n@xxxxxxxxxxxxxxxxxxxx
          Postal:   Department of Economics, University of
                    Chicago, Chicago, IL 60637
          Phone:    (312) 702-9013
          Fax:      Not Available
          ERN Ref:  LABOR:WPS96-102

     This paper develops a model of job search that involves both
     employer matches and career matches. The model incorporates
     an asymmetry in the search technology that is motivated by
     the observation that workers should find it quite difficult
     if not impossible to search over possible lines of work
     while working for one employer. The model yields an optimal
     policy that implies a two-stage search strategy for most
     workers. Workers search over types of work first. After
     finding a good match with a particular line of work, they
     then concentrate on finding an employer match. Thus, the
     model predicts that job changes among young workers will
     tend to be complex changes that involve both firm changes
     and career changes. However, among workers who have found a
     suitable career match, future job changes will be simple
     changes of employer.

     The National Longitudinal Survey of Youth provides detailed
     work histories for young respondents. These data provide a
     record of job changes for each individual. The patterns of
     job changes observed in the NLSY provide considerable
     support for the two-stage search policy implied by the
     model. Among workers who are changing jobs, those who have
     previously changed employers while working in their current
     career are much less likely to change careers during the
     current job change. This result holds even among workers
     with similar levels of career-specific work experience.

     JEL Classification: J24

     ++++++++++++++++++


     "When Knowledge is an Asset: Explaining the Organizational
      Structure of Large Law Firms"

     BY: JAMES B. REBITZER
            MIT
         LOWELL J. TAYLOR
            Carnegie Mellon University

          Date:     October 1995

          Contact:  James B. Rebitzer
          E-Mail:   jrebitze@xxxxxxx
          Postal:   Sloan School, E52-567, MIT Cambridge MA 02139
          Phone:    (617) 253-7782
          Fax:      (617) 253-2660
          Co-Auth:  lt20+@xxxxxxxxxxxxxx
          ERN Ref:  LABOR:WPS96-103

     Biologists regularly analyze the adaptation of organisms to
     environments for which they are poorly suited to learn about
     the processes of natural selection operating in more
     conventional environments. In an analogous fashion, we hope
     to learn about the economics of the organization of the firm
     through careful analysis of an unusual set of firms, large
     law firms. Our point of departure is the "property rights"
     approach that emphasizes the centrality of ownership's legal
     rights to control important, non-human assets of the
     enterprise. From this perspective, large law firms are an
     interesting and potentially important object of study
     because the most valuable assets of these firms take the
     form of knowledge, particularly knowledge of the needs and
     interests of clients. We argue that the distinctive
     organizational features of large law firms, "up-or-out"
     promotion rules with the winners becoming residual claimants
     in the firm, emerge naturally in this setting. In addition
     to explaining previously anomalous features of the
     "up-or-out" partnership system, this paper suggests a new
     framework for analyzing organizations where assets reside in
     the brains of employees.

     JEL Classification: J41, J44

     ++++++++++++++++++


     "Labor Market Outcomes for Persons with Long Term
      Disabilities and College Educations"

     BY: WALLACE HENDRICKS
            University of Illinois
            University of Illinois
         EMIR BROADBENT
            Buena Vista University

          Date:     September 1995

          Contact:  Wallace Hendricks
          E-Mail:   wally-h@xxxxxxxx
          Postal:   Department of Economics, University of
                    Illinois, 1206 S. Sixth St., Champaign,
                    IL 61821
          Phone:    (217) 333-6028
          Fax:      (217) 333-6028
          ERN Ref:  LABOR:WPS96-104

     This study focuses on the labor market consequences of long
     term disability for persons who had the opportunity to
     receive a university education and rehabilitation services.
     The sample matches persons with disabilities with a similar
     sample of university graduates without disabilities. In this
     paper, we focus on the salary outcomes for these two groups.
     We also report results for specific functional limitations.
     The advantages of a college education and advanced degrees
     allow persons with long term disabilities to compete quite
     well in the job market. The salary differentials that we
     estimate for this sample of long term disabled persons are
     quite small compared to the gaps typically estimated for
     disabled persons. The negative aspect of our results is that
     there appears to be a residual of the difference in salaries
     across persons with disabilities that is correlated with the
     negative opinions held by the general populations about
     persons with these disabilities. The introduction of a
     measure of health that should be correlated with
     productivity serves to increase rather than decrease the
     point estimates of the role of attitudes on wages. We
     therefore cannot dismiss the possibility that wage
     discrimination remains for even highly qualified persons
     with long term disabilities.

     JEL Classification: I21, J71, I12

     ____________________________________________________________

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     FRANCINE D. BLAU
       Frances Perkins Professor of Industrial and Labor
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       Institute for Labor Market Policy, School of Industrial
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     CHARLES BROWN
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     HENRY FARBER
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     RICHARD B. FREEMAN
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       Performance, London School of Economics

     ROBERT GIBBONS
       Charles Dyson Professor of Economics and Organizations,
       Johnson School of Management, Cornell University; Co-
       Editor, Journal of Labor Economics; Research Associate,
       NBER; Advisory Board, Citicorp Behavioral Science Research
       Council

     JAMES HECKMAN
       Henry Schultz Distinguished Service Professor of Economics
       and Public Policy, and Director, Center for Program
       Evaluation, Harris School of Public Policy, University of
       Chicago; Fellow, American Bar Foundation; Research
       Associate, NBER

     LAWRENCE KATZ
       Professor of Economics, Harvard University; Editor,
       Quarterly Journal of Economics; Research Associate, NBER

     DAVID NEUMARK
       Professor of Economics, Michigan State University;
       Research Associate, NBER

     ROBERT TOPEL
       Isidore Brown and Gladys J. Brown Professor in Urban and
       Labor Economics, Graduate School of Business, University
       of Chicago; Editor, Journal of Political Economy

     FINIS WELCH
       Abell Professor of Liberal Arts and Distinguished
       Professor of Economics, Texas A&M University

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