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Wage-Tenure Contracts in a Frictional Labour Market: Firms' Stratgies for Recruitment and Retention

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Author Info
Stevens, M.

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Abstract

This paper analyses the contract-posting equilibrium in a general equilibrium matching model of the labour market with on-the-job turnover. Privately optimal contracts have a rising wage-tenure profile, even when productivity is constant. The effect is to reduce equilibrium turnover; when jobs differ in productivity, turnover is below the level required for efficient matching of workers to jobs.

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Publisher Info
Paper provided by Economics Group, Nuffield College, University of Oxford in its series Economics Papers with number 2000-w10.

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Length: 37 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:nuf:econwp:2000-w10

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Web page: http://www.nuff.ox.ac.uk/economics/

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Related research
Keywords: WORKERS' REPRESENTATION LABOUR MARKET

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Find related papers by JEL classification:
J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts

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  1. Leora Friedberg & Michael Owyang, 2004. "Explaining the Evolution of Pension Structure and Job Tenure," NBER Working Papers 10714, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Armstrong, Mark & Vickers, John, 2008. "Competitive nonlinear pricing and bundling," MPRA Paper 70, University Library of Munich, Germany. [Downloadable!]
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  3. Jerome Adda & Christian Dustmann & Costas Meghir & Jean-Marc Robin, 2006. "Career progression and formal versus on-the-job training," IFS Working Papers W06/16, Institute for Fiscal Studies. [Downloadable!]
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  4. Leora Friedberg & Michael T. Owyang & Tara M. Sinclair, 2005. "Searching for Better Prospects: Endogenizing Falling Job Tenure and Private Pension Coverage," NBER Working Papers 11808, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  5. Bryan Engelhardt & Guillaume Rocheteau & Peter Rupert, 2007. "Crime and the labor market: a search model with optimal contracts," Working Paper 0715, Federal Reserve Bank of Cleveland. [Downloadable!]
  6. Bernd Fitzenberger & Alfred Garloff, 2006. "Descriptive Evidence on Labor Market Transitions and the Wage Structure in Germany," Working Papers of the Research Group Heterogenous Labor 06-02, Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim. [Downloadable!]
  7. Carlos Carrillo Tudela, 2005. "Wage-Experience Contracts and Employment Status," Economics Discussion Papers 600, University of Essex, Department of Economics. [Downloadable!]
  8. Carlos Carrillo Tudela, 2004. "Wage-Tenure Contracts, Experience and Employment Status," Economics Discussion Papers 585, University of Essex, Department of Economics. [Downloadable!]
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  9. Fitzenberger, Bernd & Garloff, Alfred, 2005. "Descriptive Evidence on Labor Market Transitions and the Wage Structure in Germany," ZEW Discussion Papers 05-95, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  10. Adrian Masters & Melvyn Coles, 2004. "Duration Dependent Unemployment Insurance and Stabilisation Policy," Discussion Papers 04-10, University at Albany, SUNY, Department of Economics. [Downloadable!]
  11. Grégory Jolivet & Fabien Postel-Vinay & Jean-Marc Robin, 2003. "Wage distributions and wage dynamics in Europe and the US : lessons from a simple job search model," Research Unit Working Papers 0302, Laboratoire d'Economie Appliquee, INRA. [Downloadable!]
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  12. Shouyong Shi, 2006. "Directed Search for Equilibrium Wage-Tenure Contracts," Working Papers tecipa-260, University of Toronto, Department of Economics. [Downloadable!]
  13. Andreas Hornstein & Per Krusell & Giovanni L. Violante, 2007. "Frictional Wage Dispersion in Search Models: A Quantitative Assessment," NBER Working Papers 13674, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  14. Carlos Carrillo Tudela, 2004. "Recruitment Policy When Firms Observe Workers' Employment Status: an Equilibrium Search Approach," Economics Discussion Papers 584, University of Essex, Department of Economics. [Downloadable!]
  15. Fabien Postel-Vinay & Jean-Marc Robin, 2004. "To Match or Not to Match? Optimal Wage Policy With Endogenous Worker Search Intensity," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(2), pages 297-330, April. [Downloadable!] (restricted)
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