Buhai, Sebastian; Portela, Miguel; Teulings, Coen N.; … - 2008 - This version: 27 June 2008
, are the first to leave the firm (Last In, First Out; LIFO). Second, workers’ wages rise with seniority (= a worker … to seniority in wages. Efficiency in hiring requires the workers’ bargaining power to be in line with their share in the … consider the effects of Employment Protection Legislation and risk aversion. …