 Job-to-Job Flows and Wage Dynamics in France and ItalyClémence Berson, Marta De Philippis and Eliana Viviano Working papers from Banque de France Abstract: Some recent literature about the U.S. shows that wage dynamics are more influenced by jobto-job flows than by flows into or out of employment. In this paper, we evaluate whether this result holds also for France and Italy, characterized by a different structure of the labor market. Using comparable administrative data we find that, as in the U.S., in both France and Italy realized job-to-job contribute positively to wage growth. However, since these flows are smaller and display much lower cyclicality than in the U.S., their contribution to aggregate wage dynamics is low, while the contribution of flows into and out of employment remains sizeable. We then look closely at the heterogeneity in the probability of changing job and in the associated wage premium by types of workers and firms. We find that job-to-job flows and the associated gain tend to be larger in high-skilled occupations and for permanent workers. Moreover, as in the U.S., individuals are more likely to move to younger firms, which intensively poach workers from other firms. Keywords: : Wage Dynamics; Job-to-Job Flows; Transition Probabilities; Phillips Curve. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bfr:banfra:756 Access Statistics for this paper More papers in Working papers from Banque de France Banque de France 31 Rue Croix des Petits Champs LABOLOG - 49-1404 75049 PARIS. Contact information at EDIRC. |
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