Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/119607
Authors: 
Ellul, Andrew
Pagano, Marco
Schivardi, Fabiano
Year of Publication: 
2015
Series/Report no.: 
CFS Working Paper Series 517
Abstract: 
We investigate the determinants of firms' implicit insurance to employees, using a difference-indifference 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.
Subjects: 
risk-sharing
insurance
social security
unemployment
wages
family firms
JEL: 
G31
G32
G38
H25
H26
M40
Document Type: 
Working Paper

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