This paper characterises establishments that pay higher seniority wages than their competitors. It tests whether … seniority wages are paid on the basis of agency, human capital or efficiency wage considerations. A representative linked … employeremployee panel and an innovative two-step estimation strategy are used to first calculate individual seniority wages taking …

still hire few older workers. -- Deferred compensation ; entry age ; fairness ; internal labor markets ; wages …

associated with higher job mobility. At firm level, there seems to be a trade-off between wages and job stability: High …-wage firms tend to be low-tenure firms, which suggests that low job stability may be compensated by higher wages. High …