Buhai, Sebastian; Portela, Miguel; Teulings, Coen; … - Núcleo de Investigação em Políticas Económicas … - 2008
, are the first to leave the firm (Last In, First Out; LIFO). Second, workers’ wages rise with seniority (= a worker …This study documents two empirical regularities, using data for Denmark and Portugal. First, workers who are hired last … a worker and its firm. Separations (quits or layoffs) obey the LIFO rule and bargaining is efficient (a zero surplus at …