Il salario tra premio di risultato e nuove pratiche di gestione delle risorse umane. Gli effetti dell’Accordo di Luglio del 1993

Annalisa Cristini, Eleonora Bazzana and Riccardo Leoni
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Riccardo Leoni: Universita' di Bergamo

Rivista Internazionale di Scienze Sociali, 2005, vol. 113, issue 2, 157-184

Abstract: The theoretical result according to which the wage is higher when bargaining and efficiency wages interact, is tested by estimating a formally derived wage equation on an Italian firm-level panel from 1990 to 1999. The 1993 July Agreement, which fostered the adoption of decentralised incentive mechanisms, is used as a natural experiment. The main results are the following: a) Subsequent the adoption of the 1993 Agreement, the elasticity of wages to firm profits increases from 2.6 to 3.6%; the corresponding estimated wage premium is equal to 3.6% of the average wage; b) Relative to the whole sample of firms, those that signed the decentralised contract show higher wages, more persist- ent wage dynamics but lower variable wage premia; c) For the same firms, a significant increase of the rent sharing is obtained through the diffusion of individual incentives and productivity evaluation procedures; d) a considerable bias is introduced if are not profit endogeneity and unobservable fixed effects are not accounted for.

Keywords: wage; efficiency wages; bargaining; decentralisation; industrial relations. (search for similar items in EconPapers)
JEL-codes: J30 J33 J41 J50 J53 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:vep:journl:y:2005:v:113:i:2:p:157-184

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