Ellul, Andrew; Pagano, Marco; Schivardi, Fabiano - Istituto Einaudi per l'Economia e la Finanza (EIEF) - 2014
We investigate the determinants of firms’ implicit employment and wage insurance to employees against industry-level and idiosyncratic shocks. We rely on differences between family and nonfamily firms to identify the supply of insurance, and between national public insurance programs to gauge...