Munasinghe, Lalith; O'Flaherty, Brendan - Department of Economics, School of Arts and Sciences - 2002
Turnover falls with tenure ¡ª this is one of the best established empirical regularities of labor economics ¡ª but finding a tenure effect on wages seems to be very hard. Within-job wage cuts do not seem very uncommon either. We reconcile these findings by revisiting an old question: how...