Households that postpone claiming Social Security benefits are, in effect, making additional purchases of the Social Security annuity and acquiring valuable longevity insurance. This paper investigates the impact of plausible variations of subjective mortality beliefs on the value of delayed...

This paper investigates the 'goodness-of-fit' and effect on estimates of the experience-earnings profile of alternative specifications of the human capital earnings function for a sample of full-time male workers in Australia. It is concluded that it is difficult to differentiate between...

The object of this paper is to develop a method by which trade-union power can be measured and by which the factors that influence the trade-union power can be identified. In the paper, two models of unions are compared--the insider-dominated union and the open union model. In both models, the...