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 … a worker and its firm. Separations (quits or layoffs) obey the LIFO rule and bargaining is efficient (a zero surplus at … the moment of separation). The LIFO rule provides a stronger bargaining position for senior workers, leading to a return …