Equilibrium Wage and Dismissal Processes
AbstractThe author develops and estimates an equilibrium model of the labor market in which inefficient employees are systematically eliminated from the sector of the market characterized by asymmetric information and moral hazard. Systematic selection on the distribution of productivity characteristics produces wage sequences which are increasing in tenure for employees never previously terminated even in the absence of long-term contracting between employees and individual firms. The author provides sufficient conditions for there to exist an unique termination-contract type equilibrium and he estimates the equilibrium model using micro-level data from the National Longitudinal Survey of Youth panel.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by American Statistical Association in its journal Journal of Business and Economic Statistics.
Volume (Year): 15 (1997)
Issue (Month): 2 (April)
Contact details of provider:
Web page: http://www.amstat.org/publications/jbes/index.cfm?fuseaction=main
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Sauer, Robert & Keane, Michael P., 2007.
"A computationally practical simulation estimation algorithm for dynamic panel data models with unobserved endogenous state variables,"
Discussion Paper Series In Economics And Econometrics
0705, Economics Division, School of Social Sciences, University of Southampton.
- Michael P. Keane & Robert M. Sauer, 2010. "A Computationally Practical Simulation Estimation Algorithm For Dynamic Panel Data Models With Unobserved Endogenous State Variables," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(4), pages 925-958, November.
- Keane, Michael P. & Sauer, Robert M., 2009. "A Computationally Practical Simulation Estimation Algorithm for Dynamic Panel Data Models with Unobserved Endogenous State Variables," IZA Discussion Papers 4054, Institute for the Study of Labor (IZA).
- Michael P. Keane & Robert M. Sauer, 2010. "A Computationally Practical Simulation Estimation Algorithm for Dynamic Panel Data Models with Unobserved Endogenous State Variables," Working Papers 1008, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 05 Jul 2010.
- Robert M. Sauer & Michael P. Keane, 2004. "A Computationally Practical Simulation Estimation Algorithm for Dynamic Panel Data Models with Unobserved Endogenous State Variables," Econometric Society 2004 North American Summer Meetings 136, Econometric Society.
- Demiralp, Berna, 2007.
"Occupational Self-Selection in a Labor Market with Moral Hazard,"
2314, University Library of Munich, Germany.
- Demiralp, Berna, 2011. "Occupational self-selection in a labor market with moral hazard," European Economic Review, Elsevier, vol. 55(4), pages 497-519, May.
- Flinn, Christopher, 2003. "Minimum Wage Effects on Labor Market Outcomes under Search with Bargaining," IZA Discussion Papers 949, Institute for the Study of Labor (IZA).
- Ziesemer,Thomas, 2001. "Contract Prolongation In Innovation Production As A Principal-Agent Problem With Moral Hazard," Research Memorandum 036, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
- C. J. Flinn, .
"Interpreting Minimum Wage Effects on Wage Distributions: A Cautionary Tale,"
Institute for Research on Poverty Discussion Papers
1214-00, University of Wisconsin Institute for Research on Poverty.
- Christopher J. FLINN, 2002. "Interpreting Minimum Wage Effects on Wage Distributions : A Cautionary Tale," Annales d'Economie et de Statistique, ENSAE, issue 67-68, pages 309-355.
- Christopher J. Flinn, 2000. "Interpreting minimum wage effects on wage distribution: a cautionary tale," ICER Working Papers 05-2000, ICER - International Centre for Economic Research, revised May 2000.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.