Wages, Employment, and Capital in Capitalist and Worker-Owned Firms

  title={Wages, Employment, and Capital in Capitalist and Worker-Owned Firms},
  author={John H. Pencavel and Luigi Pistaferri and Fabiano Schivardi},
  journal={Industrial \& Labor Relations Review},
  pages={23 - 44}
The authors investigate how worker-owned and capitalist enterprises differ with respect to wages, employment, and capital in Italy, the market economy with the greatest incidence of worker-owned and worker-managed firms. Estimates calculated using a matched employer-worker panel data set for the years 1982–94 largely corroborate the implications of orthodox behavioral models of the two types of enterprise. Co-ops had 14% lower wages than capitalist enterprises, on average; more volatile wages… 

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