Economic Effects of Alternative Compensation Systems
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Daniel H. Newlon'}
Much recent economic research has focused on compensation systems for           labor and management which might be an effective alternative to the             wage system.  Most of the attention has centered on a system of profit          sharing or employee ownership, wherein workers are compensated not              only by wages but also by a share of the firm's profits.  Of                    particular interest to both academicians and policy makers is the               enormous potential importance of structures internal to the firm,               especially those that provide for flexible pay, in determining                  macroeconomic outcomes.  There are, however, many other possible                sharing arrangements, and in principle they will also have many                 ramifications other than affecting inflation, unemployment and other            macoreconomic variables.  They could as well affect investment                  decisions and productivity.                                                                                                                                     Past work has shown that sharing schemes take one of four different             basic forms: 1) arrangements in which employees are remunerated by a            share of the firm's profits but do not own stock nor exercise                   managerial control in the firm, 2) systems where employees own shares           in the company, but have no role in the decisions of management, 3)             firms which are managed entirely by labor, and 4) firms in which labor          and management share in the decisions.  Many specific arrangements are          variations on these four basic configurations.                                                                                                                  Given the importance of profit sharing systems, there is a dearth of            solid empirical work done on these issues.  This project fills that             gap by generating rigorous econometric evidence on the association              between degrees of profit sharing and various economic indicators               including productivity, investment rates, enterprise formation, and             firm survival.  Using a very rich and detailed set of panel data                previously constructed by Professor Jones on profit sharing firms in            Great Britain, France, and the United States, this project provides             estimates of labor and wage equations, production functions, and                productivity equations.  These enable Professor Jones and other                 researchers to ascertain the structure and the mechanism by which               labor compensation arrangements affect the macroeconomy.
{'FirstName': 'Derek', 'LastName': 'Jones', 'EmailAddress': 'djones@hamilton.edu', 'StartDate': '08/01/1987', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'Hamilton College', 'CityName': 'Clinton', 'ZipCode': '133231218', 'PhoneNumber': '3158594678', 'StreetAddress': '198 College Hill Rd.', 'CountryName': 'United States', 'StateName': 'New York', 'StateCode': 'NY'}
[{'Code': '1320', 'Text': 'Economics'}, {'Code': '9120', 'Text': 'CROSS-DIRECTORATE PROGRAMS'}]
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1987&All=true', 'xml': '8710795.xml'}