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In the absence of informal care and public insurance, adding reverse mortgages to income and financial assets would double the ability of Europeans households to finance their long-term care expenses. However, a quarter would not even be able to finance 10% of their needs.

We use linked employer–employee data to examine the relationship between non-pecuniary job quality and workplace characteristics in Britain and France: countries with very different employment regimes. Job quality is measured through eight dimensions which are summarized in a synthetic index. We show that firm size is negatively associated with non-pecuniary job quality in both countries, but in France, the association is confined to only the largest firms. Internal labour markets are associated with higher job quality in France along numerous dimensions but do not improve job quality in Britain except on one dimension: they reduce the adverse effects of work on one’s private life.

We use two linked employer–employee datasets to adapt Hirschman's model of consumer behaviour into the labour market and to argue that dissatisfaction with pay should favour exit while dissatisfaction with working conditions should favour voice. A deterioration of our working conditions index increases the probability of participation in collective action when an increase in log hourly wage decreases the probability of quitting. A rationale for this trade‐off is based on information: first, information on the price of alternative options is more accessible than information on their quality; second, voice produces more information than exit and favours opportunities for specific improvements.

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