The effect of private versus public ownership on labour earnings
利用葡萄牙1991-2007年工人-企业面板数据，发现私有化通过提高集体谈判工资下限和增加企业加价两个渠道显著提升实际工资，但效果仅存在于分散化谈判环境，且主要惠及新入职和高学历工人。
We examine the impact of privatization on wage formation in unionized labour markets. Using longitudinal worker-firm data for Portugal spanning the period 1991–2007, we find that privatization significantly increases the actual paid wage and show that this effect occurs via two different channels. First, privatization tends to increase the wage floor negotiated via collective bargaining. Second, privately owned firms tend to pay larger mark-ups on the union wage floor. These effects are heterogeneous across bargaining regimes and worker groups, with pay rises occurring only under more decentralized bargaining settings, and accruing predominantly to newcomers to the firm and highly educated workers.