This paper provides a new way of analyzing tenure profiles in wages, by modelling simultaneously the evolution of wages … we observe outside wages only at job start and job separation, our empirical analysis of within job wage growth is based … on expected wage growth conditional on the outside wages at both dates. Our modelling allows testing of the efficient …

, 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 …

estimation of IRFs by a methodology similar to Jorda's (2005) local projection method is robust to misspecifications of the data …

hypothesis of diminishing returns to education. The implied elasticity of substitution fits Katz and Murphy s (1992) estimate. A …