Li, Jin and Yu, Jun (2016) A theory of turnover and wage dynamics. Economic Inquiry, 55 (1). pp. 223-236. ISSN 0095-2583
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Identification Number: 10.1111/ecin.12384
Abstract
We develop a model of turnover and wage dynamics with insurance, match-specific productivity, and long-term contracting. The model predicts that wages are downward rigid within firms but can decrease when workers are fired. We apply the model to study the impact of business cycles on subsequent wages and job mobility. Workers hired during a boom have persistent higher future wages if staying with the same firm. However, these boom hires are more likely to be terminated and have shorter employment spells.
| Item Type: | Article |
|---|---|
| Official URL: | http://onlinelibrary.wiley.com/journal/10.1111/(IS... |
| Additional Information: | © 2017 John Wiley & Sons |
| Divisions: | Management |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Date Deposited: | 10 Oct 2017 16:20 |
| Last Modified: | 14 Sep 2024 07:15 |
| URI: | http://eprints.lse.ac.uk/id/eprint/84561 |
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