Main description: In 1986 the Age Discrimination in Employment Act (ADEA) was amended to abolish mandatory retirement for tenured faculty members in colleges and universities effective January 1, 1994. Will this "uncapping" of the retirement age adversely affect the vitality of academic...

Economic theory suggests that wages vary with turnover rates. Because of hiring and training costs, workers viewed as likely to quit can anticipate a wage discount. Workers in industries with high layoff rates may demand a compensating wage premium. By pooling time-series industry turnover...