Employment and Wage Insurance within Firms: Worldwide Evidence

Marco Pagano, Andrew Ellul and Fabiano Schivardi

No 10711, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We investigate the determinants of firms? implicit insurance to employees, using a difference-in-difference approach: we rely on differences between family and non-family firms to identify the supply of insurance, and exploit variation in unemployment insurance across and within countries to gauge workers? demand for insurance. Using a firm-level panel from 41 countries, we find that family firms feature more stable employment, greater wage flexibility and lower labor cost than non-family ones. Employment stability in family firms is greater, and the wage discount larger, in countries with more generous public unemployment insurance: private and public provision of employment insurance are substitutes.

Keywords: Risk-sharing; Insurance; Social security; Unemployment; Wages; Family firms (search for similar items in EconPapers)
JEL-codes: G31 G32 G38 H25 H26 M40 (search for similar items in EconPapers)
Date: 2015-07
New Economics Papers: this item is included in nep-bec, nep-ias, nep-lab and nep-ltv
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Related works:
Journal Article: Employment and Wage Insurance within Firms: Worldwide Evidence (2018)
Working Paper: Employment and Wage Insurance within Firms - Worldwide Evidence (2017)
Working Paper: Employment and Wage Insurance within Firms: Worldwide Evidence (2017)
Working Paper: Employment and Wage Insurance within Firms: Worldwide Evidence (2015)
Working Paper: Employment and wage insurance within firms: Worldwide evidence (2015)
Working Paper: Employment and wage insurance within firms: worldwide evidence (2014)
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