Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/33810
Authors: 
Pencavel, John H.
Pistaferri, Luigi
Schivardi, Fabiano
Year of Publication: 
2006
Series/Report no.: 
IZA Discussion Papers 2188
Abstract: 
Differences in wages, employment, and capital between worker-owned and capitalist enterprises are computed from a matched employer-worker panel data set from Italy, the market economy with the greatest incidence of worker-owned and worker-managed firms. These differences are related to orthodox models of the capitalist firm and worker co-op. The estimates of the wage, employment, and capital equations largely corroborate the implications of the behavioral models of the two types of enterprise. Co-op wages are about 14 percent lower on average and they are more volatile (and employment less volatile) than those in capitalist enterprises. Given the breadth of the data set analyzed, the results can claim to constitute general findings about capitalist and co-op enterprises.
Subjects: 
worker-owned firms
capitalist firms
wages
employment
capital
JEL: 
J54
D21
L21
Document Type: 
Working Paper

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