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

Michael J Moore

Journal of Risk and Uncertainty, 1995, vol. 10, issue 1, 57-70

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

Date: 1995
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