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We present a simple on-the-job search model in which workers can receive shocks to their employer-specific c productivity match. Because the firm-specific match can vary, wages may increase or decrease over time at each employer. Therefore, for some workers, job-to-job transitions are a way to...
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also suggest that the marginal utility of income increases when health deteriorates. … analyze economic issues by considering the implications of allowing for health state dependence in the utility function. Our … concavity than log utility. We also find that controlling for health dependence generally reduces these estimates. Our results …
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