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Workers' Compensation: Wage Effects, Benefit Inadequacies, and the Value of Health Losses

dc.contributor.authorViscusi, W. Kip
dc.contributor.authorMoore, Michael J., 1953-
dc.date.accessioned2014-04-11T16:54:30Z
dc.date.available2014-04-11T16:54:30Z
dc.date.issued1987
dc.identifier.citation69 Rev. Econ. Stat. 249 (1987)en_US
dc.identifier.urihttp://hdl.handle.net/1803/6287
dc.description.abstractUsing the 1977 Quality of Employment Survey in conjunction with BLS risk series and state workers' compensation benefit formulas, the authors assess the labor market implications of workers' compensation. Higher levels of workers' compensation benefits reduce wage levels, and controlling for workers' compensation raises estimates of compensating differentials for risk. The rate of trade-off between wages and workers' compensation suggests that benefit levels provide suboptimal levels of income insurance, abstracting from moral hazard considerations. The value of nonmonetary losses from job injuries (including pain and suffering and nonwork disability) is estimated to be $17,000-$26,000.en_US
dc.format.extent1 PDF (14 pages)en_US
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.publisherThe Review of Economics and Statisticsen_US
dc.subject.lcshWorkers' compensation -- United Statesen_US
dc.titleWorkers' Compensation: Wage Effects, Benefit Inadequacies, and the Value of Health Lossesen_US
dc.typeArticleen_US


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