, 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 …

This paper provides a new way of analyzing tenure profiles in wages, by modelling simultaneously the evolution of wages … and the distribution of tenures. Starting point is the observation that within-job log wages for an individual can be … outside wages only at job start and job separation, our empirical analysis of with job wage growth is based on expected wage …