This book casts light on the empirical relationship between labor market deregulation through non-standard contracts and the three main dimensions of worker security: employment, income and social security.
This book presents the contributions to the first Wild@Ace conference. The acronym stands for OC Workshop on Industrial and Labor Dynamics OCo The Agent-Based Computational AproachOCO, and it has been the first event ever focusing on the very promising use of the agent-based simulation approach for investigation of labor economics and industrial organization issues. Agent-based models are computer models in which a multitude of agents OCo each embodied in a specific software code OCo interact. These agents can represent individuals households, firms, institutions, etc. Moreover, OC specialOCO agents can be added to observe and monitor individual and collective behavior. One of the main purpose of writing an ACE model is to gain intuitions on the two-way feedback between the microstructure and the macrostructure of a phenomenon of interest. How is it that simple aggregate regularities may arise from individual disorder? Or that a nice structure at an individual level may lead to a complete absence of regularity in the aggregate? How is it that the complex interaction of very simple individuals may lead to surprisingly complicated aggregate dynamics? Or that sophisticated agents may be unable to organize themselves in any interesting way?. The book includes contributions by some of the most distinguished researchers in the field, such as the economists Alan Kirman, Giovanni Dosi, Leigh Tesfatsion and Mauro Gallegati, and the sociologist Nigel Gilbert.
We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment. This result is concentrated in more levered and less productive firms. Also, the relatively less educated and less skilled workers with temporary contracts are the most affected. Our results are consistent with the cleansing role of financial shocks.
This book casts light on the empirical relationship between labor market deregulation through non-standard contracts and the three main dimensions of worker security: employment, income and social security.
We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment. This result is concentrated in more levered and less productive firms. Also, the relatively less educated and less skilled workers with temporary contracts are the most affected. Our results are consistent with the cleansing role of financial shocks.
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