Empirical work in labor economics has focused on rent sharing as an explanation for the observed correlation between wages and profitability. The alternative explanation of risk sharing between workers and employers has not been tested. Using a unique panel data set for four African countries, Authors find strong evidence of risk sharing. Workers in effect offer insurance to employers: when firms are hit by temporary shocks, the effect on profits...
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2003/09/01
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Artigo de revista
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77416
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1
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1
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2013/05/22
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Disclosed
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Risk sharing in labor markets
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risk sharing
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