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The Sharing Hypothesis for Specific Human Capital
Stevens, Margaret - C.E.P.R. Discussion Papers - 1994
a positive relationship between wage and tenure. It is shown that the standard model does not in fact predict such a …
Persistent link: https://www.econbiz.de/10005504373
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Earnings and Seniority in Japan. A Re-appraisal of the Existing Evidence and a Comparison with the UK
Ariga, Kenn; Brunello, Giorgio - C.E.P.R. Discussion Papers - 1994
need not reflect the `true' relationship between earnings and tenure. In this paper we argue that the observation of the …. Under certain assumptions, this information can be used to construct an unbiased estimator of the effects of tenure on … earnings growth. We apply this simple idea to Japanese and UK data. We find that tenure effects on earnings are positive but …
Persistent link: https://www.econbiz.de/10005791889
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Golden Cages for Showy Birds: Optimal Switching Costs in Labour Markets
Burguet, Roberto; Caminal, Ramon; Matutes, Carmen - C.E.P.R. Discussion Papers - 1999
Why do some workers sign contracts with high quitting penalties? Are these restrictions on the workers' mobility perverse for efficiency or workers' welfare? We postulate an answer that hinges on the degree of observability of the worker's performance by alternative employers. When performance...
Persistent link: https://www.econbiz.de/10005661692
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A Test Between Unemployment Theories Using Matching Data
Coles, Melvyn G; Petrongolo, Barbara - C.E.P.R. Discussion Papers - 2002
A new methodology is described which tests between various equilibrium theories of unemployment using matching data … identify a matching process using data which is recorded monthly, and also shows how to identify different unemployment … employment agency data for the UK over the period 1985-99. Although the standard random matching approach provides a reasonably …
Persistent link: https://www.econbiz.de/10005123575
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The Return to Knowledge Hierarchies
Garicano, Luis; Hubbard, Thomas - C.E.P.R. Discussion Papers - 2007
Hierarchies allow individuals to leverage their knowledge through others' time. This mechanism increases productivity and amplifies the impact of skill heterogeneity on earnings inequality. To quantify this effect, we analyze the earnings and organization of U.S. lawyers and use the equilibrium...
Persistent link: https://www.econbiz.de/10005136470
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Wages, Experience and Seniority
Dustmann, Christian; Meghir, Costas - C.E.P.R. Discussion Papers - 1999
returns to experience are 2.7% a year. The returns to tenure are close to zero. Crucial identifying information is provided by …
Persistent link: https://www.econbiz.de/10005136649
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New Developments in Models of Search in the Labour Market
Mortensen, Dale T; Pissarides, Christopher - C.E.P.R. Discussion Papers - 1999
This paper surveys recent work in equilibrium models of labor markets characterized by search and recruitment frictions and by the need to reallocate workers across productive activities. The duration of unemployment and jobs and wage determination are treated as endogenous outcomes of job...
Persistent link: https://www.econbiz.de/10005497772
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Does Space Affect Search? A Theory of Local Unemployment
Wasmer, Etienne; Zenou, Yves - C.E.P.R. Discussion Papers - 1999
The spatial dispersion of economic agents is an immediate determinant of informational imperfections. We investigate how this dispersion creates search frictions and thus rationing. For that, we develop a model of local labour markets in which workers' search efficiency is negatively affected by...
Persistent link: https://www.econbiz.de/10005656179
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Matching, Heterogeneity and the Evolution of Income Distribution
Acemoglu, Daron - C.E.P.R. Discussion Papers - 1996
This paper presents a model in which firms and workers must engage in costly search to find a production partner. In this setting the skill, job and wage distributions and their evolutions are endogenized. The presence of search frictions implies that there are two redistributive forces in the...
Persistent link: https://www.econbiz.de/10005114138
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Education, Matching and the Allocative Value of Romance
Booth, Alison L; Coles, Melvyn G - C.E.P.R. Discussion Papers - 2005
decisions of partnered couples. We consider two separate matching paradigms for agents with heterogeneous abilities - one where … generates greater investment efficiency, romantic matching generates greater allocative efficiency, since more high ability … educational investments and labour force participation based on matching regimes. …
Persistent link: https://www.econbiz.de/10005666457