| 来源类型 | Discussion paper
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| 规范类型 | 论文
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| 来源ID | DP4595
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| DP4595 International Trade and Macroeconomic Dynamics with Heteroegenous Firms |
| Fabio Ghironi; Marc J Melitz
|
| 发表日期 | 2004-09-23
|
| 出版年 | 2004
|
| 语种 | 英语
|
| 摘要 | This Paper analyses the effect of severance payments on the probability of separation at given tenure, wages and other individual and firm characteristics. It studies a mandatory deferred wage scheme of the Italian labour market (Trattamento di Fine Rapporto, TFR). Deferred wages increase job duration if two conditions hold: wages are rigidly set outside the employer-employee relationship, and past provisions are accumulated at interest rates that are below market rates. Under such circumstances, workers who withdraw from their accumulated stock of unpaid wages should experience, at given tenure, a subsequent increase in the probability of separation. This prediction appears empirically robust and quantitatively sizeable. A withdraw of 60% of the TFR stock (the median observed withdraw) increases the instantaneous hazard rate by almost 20%. In other words, an individual with at least ten years of tenure that experiences an early withdrawal increases his/her hazard rate from 10% to about 12%. A variety of robustness tests support these results. |
| 主题 | Labour Economics
|
| 关键词 | Severence payments
Employment protection legislation
|
| URL | https://cepr.org/publications/dp4595
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533516
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推荐引用方式
GB/T 7714 |
Fabio Ghironi,Marc J Melitz. DP4595 International Trade and Macroeconomic Dynamics with Heteroegenous Firms. 2004.
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