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| Author: | Flinn, C. J. |
| Title: | Labour market structure and inequality: a comparison of Italy and the U.S. |
| Journal: | Review of Economic Studies
2002 : JUL, VOL. 69:3(240), p. 611-645 |
| Index terms: | Labour markets Employment policy Italy USA Country comparisons |
| Language: | eng |
| Abstract: | Using a model of off- and on-the job search and event-history, individual-level data for Italy and the U.S., the authors show that while the cross-sectional wage distribution of young Italian males are much more compressed than are the comparable distributions for young while U.S. males, the estimated search model implies that the distribution of lifetime welfare is no more disperse in the U.S. than it is in Italy. The model implies that the high frequency of movements between labour market states leads to both a relatively equitable distribution of "long run" welfare in the USA and a high level of cross-setional inequality. |
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