A THEORY OF TURNOVER AND WAGE DYNAMICS

被引：0
|
作者：
Li, Jin [1 ]
Yu, Jun [2 ,3 ]
机构：
[1] Northwestern Univ, Kellogg Sch Management, Strategy Dept, Evanston, IL 60208 USA
[2] Shanghai Univ Finance & Econ, Sch Econ, Shanghai 200433, Peoples R China
[3] Shanghai Univ Finance & Econ, Key Lab Math Econ SUFE, Shanghai 200433, Peoples R China
来源：
ECONOMIC INQUIRY | 2017年 / 55卷 / 01期
关键词：
ASYMMETRIC INFORMATION; LABOR-MARKET; MOBILITY; FLUCTUATIONS; INVESTMENT; EFFICIENCY; PROMOTION; LAYOFFS; WORKERS; MATTER;
D O I：
10.1111/ecin.12384
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
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. (JEL C73, D23, D82, J33)
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页码：223 / 236
页数：14
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