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Graded Security and Labor Market Mobility: Evidence from the Jobs Act

Relatore: Tito Boeri Presidente dell'INPS.

The Italian Jobs Act provides a unique natural experiment for testing the labor market effects of graded security in dual labor markets. The reform introduced a new labor contract based on graded security, with severance payments increasing with tenure, while phasing out the reinstatement clause applied until March 2015 to unfair dismissals. We draw on a unique dataset covering the universe of private firms having at least once 10 to 20 employees in the period 2013-16. Beyond an overall increase in mobility, we find evidence of a causal increase in open ended hirings by firms with more than 15 employees relative to smaller firms. The effect is sizable, of the order of 50 percent. We also observe an increase in the transformation from fixed term to open ended contracts as large as 100 percent. We
also find evidence of an increase in ring in larger firms relative to smaller firms. Finally, we observe a reduction in job-to-job flows for workers in firms with more than 15 employees, who would have lost the reinstatement clause by moving to another firm-contract. These empirical results are coherent with theoretical predictions on the effects of graded security in imperfect labor markets, and, more broadly, with general models of dynamic labor demand with employment protection legislation.

Data inizio evento: 16/03/2018 14:30

Luogo: Aula 4, Dipartimento di Economia Marco Biagi, viale Berengario 51, Modena

Categorie: societą, eventi, Seminario

Pubblicato da: comunicazione@unimore.it