Job dynamics, correlated shocks and wage profiles

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Cabrales, Antonio; Hopenhayn, Hugo. Job dynamics, correlated shocks and wage profiles. 1998
To cite or link this document: Cabrales, Antonio Hopenhayn, Hugo
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa 1998-01-01
dc.description.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.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 260
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.title Job dynamics, correlated shocks and wage profiles
dc.type info:eu-repo/semantics/workingPaper 2014-06-03T07:13:55Z
dc.subject.keyword Microeconomics
dc.subject.keyword layoff costs
dc.subject.keyword search
dc.subject.keyword layoff hazard rates
dc.subject.keyword wage-tenure relationship
dc.rights.accessRights info:eu-repo/semantics/openAccess

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