relatively high earnings in comparison to employees without employment interruptions several years before the non-employment … spell. This earnings advantage turns into a strong earnings disadvantage shortly before the non-employment spell. Younger … unemployed have a relatively stable and small earnings disadvantage before non-employment. Second, while the younger employees …

This paper combines two strains of the literature on the employment effects of deferred compensation. The first strain … separates seniority and job matching wage effects on the basis of individual data, but cannot look at employment consequences …. The second strain explains the employment structure on the basis of establishment data, but cannot properly calculate …

analyses of a uniform minimum wage. The model with worker and firm heterogeneity does not restrict the sign of employment … opportunity cost of employment. …