Buhai, Sebastian; Portela, Miguel; Teulings, Coen; van … - Institute for the Study of Labor (IZA) - 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 …