A model of globalization and firm-worker matching: How good is good enough?
AbstractMore able workers are more productive than less able workers, but their outside opportunities also allow them to command a higher wage. As a result, it is not clear which workers firms will prefer to hire. Moreover, with worker heterogeneity and labor market frictions, firms may not always get their first choice of worker. We investigate circumstances under which the second best is good enough, and show how globalization can either narrow or broaden the conditions under which second best is acceptable.
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Bibliographic InfoArticle provided by Elsevier in its journal International Review of Economics & Finance.
Volume (Year): 23 (2012)
Issue (Month): C ()
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Web page: http://www.elsevier.com/locate/inca/620165
Globalization; Worker-firm mismatch; Heterogeneity;
Find related papers by JEL classification:
- F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies
- F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
- J63 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Turnover; Vacancies; Layoffs
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
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