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This paper shows that job mobility is a valuable channel which employed workers use to mitigate bad labor market shocks. I construct and estimate a model of wage dynamics jointly with a dynamic model of job mobility. The key feature of the model is the specification of wage shocks at the worker-...
Persistent link: https://www.econbiz.de/10011308407
This paper shows that job mobility is a valuable channel which employed workers use to mitigate bad labor market shocks. I construct and estimate a model of wage dynamics jointly with a dynamic model of job mobility. The key feature of the model is the specification of wage shocks at the worker-...
Persistent link: https://www.econbiz.de/10013016246
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ones. But market wages must adjust to make the marginal firm indifferent between high and low variance workers. The market …
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