Template-type: ReDIF-Article 1.0 Author-Name: Robert Plasman Author-Name: Fran?ois Rycx Title: The War of Models: Determination of Wages and Employment in Swedish Private Sector Abstract: The War of Models: Determination of Wages and Employment in Swedish Private Sector (di Robert Plasman, Fran?ois Rycx) - ABSTRACT: The purpose of this paper is to discriminate between competing models of wage and employment determination (right-to-manage, efficient bargaining and general bargaining models) using annual macro-data from the Swedish private sector covering the period 1960-93. Methodologically, the analysis relies on the Engle-Granger?s two-step estimation procedure and on non-nested tests. Phillips-Hansens?s non-parametric technique is used to obtain optimal and asymptotically normal long-run estimators. Our results show that the right-to-manage and the efficient bargaining models can be rejected in favour of the general bargaining model. Consequently, they stress the absence of a simple relation between the trade unions bargaining power and employment. JEL Classification: J50, C22, C52. Classification-JEL: Keywords: Note: Pages: Volume: 2001/73 Year: 2001 Issue:73 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=16163&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2001-073001 Number: 1 Template-type: ReDIF-Article 1.0 Author-Name: Fabrizio Bulckaen Author-Name: Marco Stampini Title: Efficiency and Distributional Effects of Revenue-Neutral Green Tax Reforms Abstract: Efficiency and Distributional Effects of Revenue-Neutral Green Tax Reforms (di Fabrizio Bulckaen, Marco Stampini) - ABSTRACT: This paper deals with the use of green tax reforms in order to reduce tax distortions and environmental pollution. We define the concept of revenue raising potential of taxes, given by the ratio between the marginal revenue and the tax base, and show how it can be used for the analysis of the welfare effects of the reform. We then consider the distributional aspects of the reform and analyze them through the analysis of welfare dominance and concentration curves, without imposing weights to be used in the social utility function. JEL Classification: H0, H2, H23 Classification-JEL: Keywords: Note: Pages: Volume: 2001/73 Year: 2001 Issue:73 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=16164&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2001-073002 Number: 2 Template-type: ReDIF-Article 1.0 Author-Name: Giovanni Pica Title: Labour Demand and Financial Markets Imperfections Abstract: Labour demand and financial markets imperfections (di Giovanni Pica) - ABSTRACT: This paper analyses the cyclicality of labour demand and its sensitivity to the cycle in economies characterized by imperfections in capital markets. We show that, in such a case, labour demand depends on firms? self-financing ability and is affected by changes in the interest rate. Endogenous borrowing constraints affect employment policies by inducing firms to risk averse behaviour, which may reduce their ex-ante willingness to hire. Consistently with recent empirical findings, the model predicts that the more constrained firms are financially fragile, the more the cyclical behaviour of their labour demand is pronounced. This means that, for a given realization of the shock, more leveraged firms adjust their employment level relatively more than more capitalized firms. Furthermore, firms with higher debt to own funds ratios are shown to be more sensitive to the cycle, i.e. to react more to marginal changes in the realization of the shock. JEL Classification: J21, J23, E32, D21 Classification-JEL: Keywords: Note: Pages: Volume: 2001/73 Year: 2001 Issue:73 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=16165&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2001-073003 Number: 3 Template-type: ReDIF-Article 1.0 Author-Name: Antonino Di Pino Title: Un criterio di pseudo-equit? per la determinazione dei trattamenti pensionistici di anzianit? in Italia Abstract: Un criterio di pseudo-equit? per la determinazione dei trattamenti pensionistici di anzianit? in Italia (di Antonino Di Pino) - ABSTRACT: Seniority pay-as-you-go pensions still exist in Italy, but are scheduled to disappear in the next years. A new contribution-based formula has been introduced by the Dini reform, but the convergence of the pay-as-you-go mechanism to the new design is very slow. A heated debate is currently under way, as to whether the old mechanism should be maintained (safeguarding the expectations of older workers), or abolished sooner. A third solution is proposed in this paper: to revise the seniority pensions formula, so that the implicit rate of return be identical within each cohort. The main result is that the early-retirement decision of the workers would be discouraged. In order to measure the true implicit rate of return, we derive the expectation of life at retirement by building new Italian cohort life tables. JEL Classification: C41, J11, J26 Classification-JEL: Keywords: Note: Pages: Volume: 2001/73 Year: 2001 Issue:73 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=16166&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2001-073004 Number: 4 Template-type: ReDIF-Article 1.0 Author-Name: Andrea Lavezzi Title: Segmentazione del mercato del lavoro ed acquisizione di capitale umano: un'applicazione delle catene di Markov Abstract: Segmentazione del mercato del lavoro ed acquisizione di capitale umano: un'applicazione delle catene di Markov (di Andrea Lavezzi) - ABSTRACT: This paper explores the possibility to apply Markov Chains to the study of human capital acquisition by a population of workers. In this sense it extends to human capital diffusion a framework already used to investigate other social processes. It is argued that the use of probabilities seems appropriate to synthesize the joint effects of the multiplicity of forces impinging on the process. The functioning of a labor market is therefore represented by a particular specification of state space and of different transition matrices of a Markov Chain. Labor market segmentation as to the possibility of skills acquisition is taken as a starting point to describe different dynamics, derived from the interaction of forces pushing towards upskilling and deskilling of the labor force. Emphasis is on the long run, stationary distributions of the population of workers.JEL Classification: J24, J42 Classification-JEL: Keywords: Note: Pages: Volume: 2001/73 Year: 2001 Issue:73 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=16167&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2001-073005 Number: 5 Template-type: ReDIF-Article 1.0 Author-Name: Giovanna Messina Title: Per un federalismo equo e solidale: obiettivi e vincoli per la perequazione regionale in Italia Abstract: Per un federalismo equo e solidale: obiettivi e vincoli per la perequazione regionale in Italia (di Gioavanna Messina) - ABSTRACT: In order to provide an incentive scheme for an efficient use of financial resources, the recent reform of regional public finance in Italy will substitute central transfers with local taxes by 2001. The aim is twofold: to tighten regional budget constraints and to reduce moral hazard in local administrators behavior. But, as income is highly concentrated among northern and central regions, the distributive impact of the reform could be severe. A regional financial fund Classification-JEL: Keywords: Note: Pages: Volume: 2001/73 Year: 2001 Issue:73 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=16168&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2001-073006 Number: 6