Autori:
Berton, Fabio,
Migheli, MatteoTitolo:
Estimating the marginal rate of substitution between wage and employment protectionPeriodico:
Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper seriesAnno:
2015 - Volume:
7 - Fascicolo:
29 - Pagina iniziale:
1 - Pagina finale:
32Empirical evidence supports the hypothesis that workers have a strong preference for job security.
Building on this, the empirical research focused so far on the analysis of the “port-of-entry hypothesis” – namely on testing whether temporary jobs may act as a springboard towards standard employment relationships – underexploring the issue of what would make workers indifferent between the two options. This is the aim of the present paper. Using a dedicated survey
on a random sample of workers from the Italian public employment service, we find that: i)workers actually require a monetary compensation to trade a non-standard job for a standard one; ii) moreover, they display lexicographic preferences over contracts, inasmuch as when they have tocompare an open-ended contract to a freelance contract (chosen as the epitome of precariousness
in Italy), the compensation they ask for does not depend on contract duration; on the opposite, when they compare open-ended jobs to fixed-term jobs (where only expected duration actually matters) the required compensation does not depend on the type of contract, but only on its planned duration; iii) the estimated MRS between wage and contract duration is 257 more Euros per month to accept a one-year shorter employment relationship.
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