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Spot market wages, implicit contracts and technological change: skill-level evidence from Finland

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  • Sanna-Mari Hynninen
  • Terhi Maczulskij

Abstract

This article investigates the relevance of the theories of implicit contracts and spot market model to the skill-level wages in Finland. We use linked worker-firm panel data over the period from 1991 to 2004, which included major institutional and technological changes. We find similar patterns in the wage flexibility of primary and highly educated workers: their wages increased with the decreasing spot market unemployment rate after the EU membership still exhibiting some weak backward linkages. The wages of the secondary-educated did not follow the decreasing spot market unemployment, but instead some signs of the full commitment risk sharing were found.

Suggested Citation

  • Sanna-Mari Hynninen & Terhi Maczulskij, 2013. "Spot market wages, implicit contracts and technological change: skill-level evidence from Finland," Applied Economics, Taylor & Francis Journals, vol. 45(19), pages 2715-2723, July.
    • Handle: RePEc:taf:applec:v:45:y:2013:i:19:p:2715-2723
    DOI: 10.1080/00036846.2012.674205
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    References listed on IDEAS

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    1. David H. Autor & David Dorn, 2013. "The Growth of Low-Skill Service Jobs and the Polarization of the US Labor Market," American Economic Review, American Economic Association, vol. 103(5), pages 1553-1597, August.
    2. Napari, Sami, . "Essays on the Gender Wage Gap in Finland," ETLA A, The Research Institute of the Finnish Economy, number 44.
    3. Terhi Maczulskij & Jaakko Pehkonen, 2011. "Public-Private Sector Pay Gaps in Finland: A Quantile Regression Analysis," Finnish Economic Papers, Finnish Economic Association, vol. 24(2), pages 111-127, Autumn.
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