New survey data for a panel of Polish firms is used to study employment and wage adjustment in state-owned enterprises, new private firms, and insider- and outsider- controlled privatized firms. In contrast to earlier studies, dynamic panel data estimators (GMM) allow for endogeneity of observed variables and partial adjustment to shocks. Asymmetric demand and productivity shocks have differeing effects across ownership categories that are missed by the simpler and more aggregated specifications used in the previous transition literature. We do seem to confirm rent-seeking behaviour in insider-controlled firms and find significant size-wage and employment-growth wage effects.
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Paper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number
0003.
Find related papers by JEL classification: C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials P2 - Economic Systems - - Socialist Systems and Transition Economies P3 - Economic Systems - - Socialist Institutions and Their Transitions