the long-term wage costs of a job loss. In our framework, these costs occur due to losses in workers' human capital and … firm specific compensation, interruptions to workers' on-the-job search and due to turnover heterogeneity. A key feature is … accumulation. We estimate the wage losses due to job separation for young workers in the UK and show that our calibrated model fits …

This paper constructs and quantitatively assesses an equilibrium search model with on-the- job search and general human …