Papers Containing Tag(s): 'Cornell University'
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Viewing papers 61 through 70 of 80
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Working PaperEmployer-Provided Benefit Plans, Workforce Composition and Firm Outcomes
January 2005
Working Paper Number:
tp-2005-01
What do firms gain by offering benefits? Economists have proposed two payoffs: (i) benefits may be a more cost-effective form of compensation than wages for employees facing high marginal tax rates, and (ii) benefits may attract a more stable, skilled workforce. Both should improve firm outcomes, but we have little evidence on this matter. This paper exploits a rich new dataset to examine how firm productivity and survival are related to benefit offering, and finds that benefit-offering firms have higher productivity and higher survival rates. Differences in firm and workforce characteristics explain some but not all of the differences in outcomes.View Full Paper PDF
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Working PaperNew Approaches to Confidentiality Protection Synthetic Data, Remote Access and Research Data Centers
June 2004
Working Paper Number:
tp-2004-03
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Working PaperUsing Worker Flows in the Analysis of the Firm
August 2003
Working Paper Number:
tp-2003-09
This paper uses a novel approach to measure firm entry and exit, mergers and acquisition. It uses information about the flows of clusters of workers across business units to identify longitudinal linkage relationships in longitudinal business data. These longitudinal relationships may be the result of either administrative or economic changes and we explore both types of newly identified longitudinal relationships. In particular, we develop a set of criteria based on worker flows to identify changes in firm relationships ? such as mergers and acquisitions, administrative identifier changes and outsourcing. We demonstrate how this new data infrastructure and this cluster flow methodology can be used to better differentiate true firm entry/exit and simple changes in administrative identifiers. We explore the role of outsourcing in a variety of ways but in particular the outsourcing of workers to the temporary help industry. While the primary focus is on developing the data infrastructure and the methodology to identify and interpret these clustered flows of workers, we conclude the paper with an analysis of the impact of these changes on the earnings of workers.View Full Paper PDF
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Working PaperThe Relation among Human Capital, Productivity and Market Value: Building Up from Micro Evidence
December 2002
Working Paper Number:
tp-2002-14
This paper investigates and evaluates the direct and indirect contribution of human capital to business productivity and shareholder value. The impact of human capital may occur in two ways: the specific knowledge of workers at businesses may directly increase business performance, or a skilled workforce may also indirectly act as a complement to improved technologies, business models or organizational practices. We use newly created firm-level measures of workforce human capital and productivity to examine links between those measures and the market value of the employing firm. The new human capital measures come from an integrated employer-employee data base under development at the US Census Bureau. We link these data to financial information from Compustat at the firm level, which provides measures of market value and tangible assets. The combination of these two sources permits examination of the link between human capital, productivity, and market value. There is a substantial positive relation between human capital and market value that is primarily related to the unmeasured personal characteristics of the employees, which are captured by the new measures.View Full Paper PDF
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Working PaperDisplaced workers, early leavers, and re-employment wages
November 2002
Working Paper Number:
tp-2002-18
In this paper, we lay out a search model that takes explicitly into account the information flow prior to a mass layoff. Using universal wage data files that allow us to identify individuals working with healthy and displacing firms both at the time of displacement as well as any other time period, we test the predictions of the model on re-employment wage differentials. Workers leaving a "distressed" firm have higher re-employment wages than workers who stay with the distressed firm until displacement. This result is robust to the inclusion of controls for worker quality and unobservable firm characteristics.View Full Paper PDF
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Working PaperAgent Heterogeneity and Learning: An Application to Labor Markets
October 2002
Working Paper Number:
tp-2002-20
I develop a matching model with heterogeneous workers, rms, and worker-firm matches, and apply it to longitudinal linked data on employers and employees. Workers vary in their marginal product when employed and their value of leisure when unemployed. Firms vary in their marginal product and cost of maintaining a vacancy. The marginal product of a worker-firm match also depends on a match-specific interaction between worker and rm that I call match quality. Agents have complete information about worker and rm heterogeneity, and symmetric but incomplete information about match quality. They learn its value slowly by observing production outcomes. There are two key results. First, under a Nash bargain, the equilibrium wage is linear in a person-specific component, a firm-specific component, and the posterior mean of beliefs about match quality. Second, in each period the separation decision depends only on the posterior mean of beliefs and person and rm characteristics. These results have several implications for an empirical model of earnings with person and rm e ects. The rst implies that residuals within a worker-firm match are a martingale; the second implies the distribution of earnings is truncated. I test predictions from the matching model using data from the Longitudinal Employer-Household Dynamics (LEHD) Program at the US Census Bureau. I present both xed and mixed model specifications of the equilibrium wage function, taking account of structural aspects implied by the learning process. In the most general specification, earnings residuals have a completely unstructured covariance within a worker-firm match. I estimate and test a variety of more parsimonious error structures, including the martingale structure implied by the learning process. I nd considerable support for the matching model in these data.View Full Paper PDF
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Working PaperThe Sensitivity of Economic Statistics to Coding Errors in Personal Identifiers
October 2002
Working Paper Number:
tp-2002-17
In this paper, we describe the sensitivity of small-cell flow statistics to coding errors in the identity of the underlying entities. Specifically, we present results based on a comparison of the U.S. Census Bureau's Quarterly Workforce Indicators (QWI) before and after correcting for such errors in SSN-based identifiers in the underlying individual wage records. The correction used involves a novel application of existing statistical matching techniques. It is found that even a very conservative correction procedure has a sizable impact on the statistics. The average bias ranges from 0.25 percent up to 15 percent for flow statistics, and up to 5 percent for payroll aggregates.View Full Paper PDF
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Working PaperEstimating Measurement Error in SIPP Annual Job Earnings: A Comparison of Census Survey and SSA Administrative Data
September 2002
Working Paper Number:
tp-2002-24
The third chapter investigates measurement error in SIPP annual job earnings data linked to SSA administrative earnings data. The multiple earnings measures provided by the survey and administrative data enable the identification of components of true variation and variation due to measurement error. We find that 18% of the variation in SIPP annual job earnings can be attributed to measurement error. We also find that in both the SIPP and the DER, measurement error is persistent over time. A lower level of auto-correlation in the SIPP measurement error than in the economic error component leads to a lower reliability ratio of .62 for first-differenced earnings.View Full Paper PDF
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Working PaperEstimating the Relationship between Employer-Provided Health Insurance, Worker Mobility, and Wages
September 2002
Working Paper Number:
tp-2002-23
In this paper, a joint model of wages, hazard of a job ending, and probability of holding employer-provided health insurance is estimated, taking account of unobservable person and job characteristics. A unique data source, the 1990 and 1996 SIPP Panels linked to SSA administrative job histories, enables the identification of random person and job effects and the correlation of these effects across the three equations. The explicit modeling of this correlation produces consistent estimates of the effect of tenure on wages and the effect of health insurance on mobility. Substantial levels of job-lock and significant annual returns to seniority are found. Increasing the job-specific probability of obtaining employerprovided health insurance from 60% to 63%, or increasing the job-specific hourly wage rate by $.80, are both associated with an equivalent decrease in the hazard of the job ending. However, the dollar value of the wage benefit is substantially higher.View Full Paper PDF
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Working PaperThe interactions of workers and firms in the low-wage labor market
August 2002
Working Paper Number:
tp-2002-12
This paper presents an analysis of workers who persistently have low earnings in the labor market over a period of three or more years. Some of these workers manage to escape from this low-earning status over subsequent years, while many do not. Using data from the Longitudinal Employer Household Dynamics (LEHD) project at the U.S. Census Bureau, we analyze the characteristics of persons and especially of their firms and jobs that enable some to improve their earnings status over time.View Full Paper PDF
