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| Author: | Cardoso, A.R. Portela, M. |
| Title: | Micro foundations for wage flexibility: Wage insurance at the firm level |
| Journal: | Scandinavian Journal of Economics
2009 : VOL. 111:1, p. 29-50 |
| Index terms: | company performance pay wage determination risk sharing collective bargaining Portugal |
| Language: | eng |
| Abstract: | Relying on Guiso, Pistaferri and Schivardi (2005) to estimate dynamic models of sales and wages, it is found that in Portugal, workers' wages respond to permanent shocks on firm performance, as opposed to transitory shocks. The factors associated with wage flexibility are examined. It is found that collective bargaining and minimum wages are associated with higher wage insurance by the firm, while the firm's bankruptcy threat reducing it. Managers receive less protection against permanent shocks than other workers. |
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