¶ Wages, employment, and capital in capitalist and worker-owned firms

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¶ BibTeX

@article{pencavel2006wages,
  title={Wages, employment, and capital in capitalist and worker-owned firms},
  author={Pencavel, John and Pistaferri, Luigi and Schivardi, Fabiano},
  journal={ILR Review},
  volume={60},
  number={1},
  pages={23--44},
  year={2006},
  publisher={SAGE Publications Sage CA: Los Angeles, CA}
}

¶ Abstract

The authors investigate how worker-owned and capitalist enterprises differ with respect to wages, employment, and capital in Italy, the market economy with the great est incidence of worker-owned and worker-managed firms. Estimates calculated using a matched employer-worker panel data set for the years 1982-94 largely corroborate the implications of orthodox behavioral models of the two types of enterprise. Co-ops had 14% lower wages than capitalist enterprises, on average; more volatile wages; and less volatile employment. Given the quality of the data set analyzed the authors argue, these results can be regarded as having broad generality.