| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5288 |
| DP5288 Trusting the Stock Market | |
| Luigi Guiso; Luigi Zingales; Paola Sapienza | |
| 发表日期 | 2005-10-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | We study the effects of the more stringent employment protection legislation (EPL) that applies in Italy to firms with over 15 employees. We consider firms' propensity to grow when close to that threshold and changes in employment policies when they pass it. Using a comprehensive matched employer-employees dataset, we find that the probability of firms' growth is reduced by around 2 percentage points near the threshold. Using the stochastic transition matrix for firm size, we compute the long-run effects of EPL on the size distribution, finding that they are quantitatively modest. We also find that, contrary to the implications of more stringent firing restrictions, workers in firms just above the threshold have on average less stable employment relations than those just below it. We document that this is because firms above the threshold make greater use of flexible employment contracts, arguably to circumvent the stricter regulation on open-end contracts. |
| 主题 | Industrial Organization |
| 关键词 | Firing costs Firm size distribution Employment policies Matched data |
| URL | https://cepr.org/publications/dp5288 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534163 |
| 推荐引用方式 GB/T 7714 | Luigi Guiso,Luigi Zingales,Paola Sapienza. DP5288 Trusting the Stock Market. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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