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The heterogeneous consequences of reduced labor costs on firm productivity
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SYSNO ASEP 0587476 Druh ASEP V - Výzkumná zpráva Zařazení RIV Záznam nebyl označen do RIV Název The heterogeneous consequences of reduced labor costs on firm productivity Tvůrce(i) Del Prato, F. (FR)
Zacchia, Paolo (NHU-C) ORCIDVyd. údaje Prague: CERGE-EI, 2024 ISSN 2788-0443 Edice CERGE-EI Working Paper Series Č. sv. edice 783 Poč.str. 40 s. Forma vydání Online - E Jazyk dok. eng - angličtina Země vyd. CZ - Česká republika Klíč. slova labor costs ; productivity ; collective bargaining Vědní obor RIV AH - Ekonomie Obor OECD Applied Economics, Econometrics Institucionální podpora NHU-C - Cooperatio-COOP Anotace We document how a reduction in labor costs led to heterogeneous effects on the total factor productivity (TFP) of manufacturing firms. Leveraging an Italian labor legislation reform and unique institutional features of the local collective bargaining system, we show that such effects vary along the TFP distribution. Relative to the counterfactual, TFP markedly declines on the left tail, which we explain via selection mechanisms, on the right, TFP mildly increases as firms are able to expand and reallocate their workforce. To guide the evaluation of welfare implications, we develop a general equilibrium model featuring firm selection and frictions in input markets. Pracoviště NHU-C Kontakt Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Rok sběru 2025 Elektronická adresa https://www.cerge-ei.cz/pdf/wp/Wp783.pdf
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