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Preferences for labour regulation: endowments versus beliefs

Author

Listed:
  • Romain Duval
  • Yi JiWorld Bank
  • Chris Papageorgiou
  • Ippei Shibata
  • Antonio Spilimbergo

Abstract

SUMMARYAre preferences for labour regulations driven by individuals’ own endowments or their beliefs? To address this question, we conducted a cross-country survey on people’s opinions on employment protection legislation – an area where reform has proven to be difficult and personal interests is at stake. We find that individuals’ beliefs contribute two to three times more than their own endowments and personal pay-offs. A randomized information treatment confirms that beliefs can explain views about regulations, but beliefs can also change with new information. Our results are robust to several checks, including to alternative estimation techniques and samples.

Suggested Citation

  • Romain Duval & Yi JiWorld Bank & Chris Papageorgiou & Ippei Shibata & Antonio Spilimbergo, 2024. "Preferences for labour regulation: endowments versus beliefs," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 39(119), pages 549-606.
    • Handle: RePEc:oup:ecpoli:v:39:y:2024:i:119:p:549-606.
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    File URL: http://hdl.handle.net/10.1093/epolic/eiae021
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    More about this item

    Keywords

    D70; D72; J08; J65;
    All these keywords.

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings

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