The Effect of Fringe Benefits on Employment Fluctuations in U.S. Automobile Manufacturing

David J Smyth and Stephen H Karlson

The Review of Economics and Statistics, 1991, vol. 73, issue 1, 40-49

Abstract: The authors present a theoretical and empirical analysis of employment adjustment by U.S. automobile manufacturers. The model allows for variable elasticities of substitution among labor and other inputs and between hours and workers. They use total compensation as their measure of labor cost. The authors' labor effectiveness function has diminishing marginal returns to hours. The speed of employment adjustment depends on the relative costs of straight-time and overtime hours. Copyright 1991 by MIT Press.

Date: 1991
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