Job Dynamics, Correlated Shocks and Wage Profiles

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Cabrales, Antonio; Hopenhayn, Hugo Andrés. Job Dynamics, Correlated Shocks and Wage Profiles. 2005
http://hdl.handle.net/10230/1051

To cite or link this document: http://hdl.handle.net/10230/1051

Title:	Job Dynamics, Correlated Shocks and Wage Profiles
Author:	Cabrales, Antonio; Hopenhayn, Hugo Andrés
Other authors:	Universitat Pompeu Fabra. Departament d'Economia i Empresa
Abstract:	We generalize the Mortensen-Pissarides (1994) model of the labor market with a more realistic structure for the stochastic process of the shocks to the worker-firm match. In this way we can acommodate the empirical observation that hazard rates of job termination decrease and average wages increase with job tenure. Besides being able to fit better some observables of the model, the changes we introduce are nontrivial for the analysis of policies as well.
Document type:	Working paper
Date:	2005
Rights:	Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)