Wages, Employment, and Capital in Capitalist and Worker-Owned Firms
The authors investigate how worker-owned and capitalist enterprises differ with respect to wages, employment, and capital in Italy, the market economy with the greatest incidence of worker-owned and worker-managed firms. Estimates calculated using a matched employer-worker panel data set for the years 1982–94 largely corroborate the implications of orthodox behavioral models of the two types of enterprise. Co-ops had 14% lower wages than capitalist enterprises, on average; more volatile wages; and less volatile employment. Given the quality of the data set analyzed, the authors argue, these results can be regarded as having broad generality.
Year of publication: |
2006
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Authors: | Pencavel, John ; Pistaferri, Luigi ; Schivardi, Fabiano |
Published in: |
ILR Review. - Cornell University, ILR School. - Vol. 60.2006, 1, p. 23-44
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Publisher: |
Cornell University, ILR School |
Saved in:
Online Resource
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