Workers' Heterogeneity and Risk Aversion : a Segmentation Model of the Russian Labour Market.
Опубликовано на портале: 08-12-2002
Journal of Comparative Economics.
2001.
Vol. 29.
No. 2.
P. 230-256.
This paper proposes an explanation of the puzzling coexistence of elements of inertia
and dynamism on the Russian labour market. In a context of high uncertainty, risk
averse and heterogeneous workers face a trade-off between wages and an insurance
against risk o ered by the firm. The firm proposes a contract which includes a low
monetary wage and the access to social services. Workers choose to accept the contract
or to leave the firm. Their choice gives rise to an ex post segmentation : the most
productive workers leave the firm and concentrate in the most productive firms; the
less adapted workers remain in their initial firm where they accept to receive lower
wages as a price for security. In this framework, wage arrears can be viewed as an
element of an implicit contract between firms and less productive workers. We test
the relevance of the model using a panel dataset containing 9233 Russian firms for
1993 - 1998 as well as a sub-sample for which we have information on firms' wage
arrears.

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Ключевые слова
implicit contract labor market Russia segmentation social assets transition uncertainty wage arrears
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