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Labour market --- 331.5 --- Labor supply --- -Wages --- -Compensation --- Departmental salaries --- Earnings --- Pay --- Remuneration --- Salaries --- Wage-fund --- Wage rates --- Working class --- Income --- Labor costs --- Compensation management --- Cost and standard of living --- Prices --- Labor force --- Labor force participation --- Labor pool --- Work force --- Workforce --- Labor market --- Human capital --- Labor mobility --- Manpower --- Manpower policy --- Arbeidsmarkt. Werkgelegenheid --(algemeen) --- Addresses, essays, lectures --- Wages --- -Arbeidsmarkt. Werkgelegenheid --(algemeen) --- 331.5 Arbeidsmarkt. Werkgelegenheid --(algemeen) --- Compensation
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Economic analysis of law --- Economic law --- United States of America
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Employers'' liability -- United States -- Congresses. --- Employers'' liability insurance -- United States -- Congresses. --- Industrial hygiene -- United States -- Costs -- Congresses. --- Industrial safety -- United States -- Costs -- Congresses. --- Workers'' compensation -- United States -- Congresses. --- Workers' compensation --- Employers' liability insurance --- Employers' liability --- Industrial safety --- Industrial hygiene --- Labor & Workers' Economics --- Business & Economics --- Costs --- Employees --- Health of workers --- Hygiene, Industrial --- Industrial health engineering --- Occupational health and safety --- Occupational safety and health --- Occupations --- Work environment --- Industrial accidents --- Industries --- Job safety --- Occupational hazards, Prevention of --- Prevention of industrial accidents --- Prevention of occupational hazards --- Safety, Industrial --- Safety engineering --- Safety measures --- Safety of workers --- Injuries (Law) --- Liability, Employers' --- Tort liability of employers --- Insurance, Employers' liability --- Workmen's compensation --- Health and hygiene --- Health aspects --- Prevention --- Law and legislation --- Environmental health --- Industrial management --- Medicine, Industrial --- Accidents --- System safety --- Liability (Law) --- Master and servant --- Strict liability --- Personal injuries --- Insurance --- Employment practices liability insurance --- Social security --- E-books
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This paper presents estimates of the average cost of the workers' compensation insurance program for a homogeneous group of employers by state. These estimates are of interest because they reflect the operation, direct nominal costs, and efficiency of workers' compensation. The paper estimates cost equations for a variety of alternative specifications. The main finding is that when cost equations are estimated by ordinary least squares there is a unit elasticity of costs with respect to benefits, but instrumental variable estimates of the effect of benefits yield a greater than unit elasticity. The results also indicate that the presence of a state insurance fund is associated with higher average costs to employers, all else equal. Finally, we explore the impact that the minimum standards recommended by the National Commission on State Workmen's Compensation Laws would have on workers' compensation costs.
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