The (unexpected) structure of "rents" on the French and British labour markets
AbstractThis paper considers the allocation of labour on the French and British markets, using objective wage and subjective satisfaction data. We show that, in some sectors, workers enjoy both higher wages and higher job satisfaction. We argue that this reflects labour market wage rents. Perhaps surprisingly, wage rents are typical of the British public sector and permanent contracts, but not of their French counterparts. In France, such rents are found in full-time, rather than part-time jobs. Hence, the data provide little support for the usual a priori that the French labour market is structured along insider-outsider model lines, whereby wage rents are captured by the insiders of the public sector to the detriment of the private sector. However, they do suggest that part-time employment is involuntary to a far greater extent in France than in Great Britain.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).
Volume (Year): 35 (2006)
Issue (Month): 2 (April)
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Web page: http://www.elsevier.com/locate/inca/620175
Other versions of this item:
- Andrew E. Clark & Claudia Senik, 2004. "The (unexpected) structure of "rents" on the French and British labour markets," DELTA Working Papers 2004-06, DELTA (Ecole normale supérieure).
- Clark, Andrew E. & Senik, Claudia, 2004. "The (Unexpected) Structure of "Rents" on the French and British Labour Markets," IZA Discussion Papers 1438, Institute for the Study of Labor (IZA).
- C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
- J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
- M51 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - Firm Employment Decisions; Promotions
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