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New Evidence on Implicit Contracts from Linked Employer-Employee Data

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  • Juha Kilponen
  • Torsten Santavirta

Abstract

We improve the precision of the implicit contract model test proposed by Beaudry and DiNardo (1991) . Our dataset allows us to define the exact industry and plant of a particular employment relationship, link local labor market characteristics to individual-level wages, and control for composition effects. We find evidence in favor of the spot-market model of wage setting in the whole sample, but there is significant variation across industries and education levels. In particular, the spot market matters most for low-skill workers, while the implicit contract model with one-sided limited commitment applies better to high-skill workers. Copyright © The editors of the "Scandinavian Journal of Economics" 2010 .

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

Volume (Year): 112 (2010)
Issue (Month): 4 (December)
Pages: 864-883

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Handle: RePEc:bla:scandj:v:112:y:2010:i:4:p:864-883

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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442

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Cited by:
  1. BELLOU Andriana & KAYMAK Baris, 2011. "Wages, Implicit Contracts, and the Business Cycle: Evidence from a European Panel," CEPS/INSTEAD Working Paper Series 2011-13, CEPS/INSTEAD.

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