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

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

Author Info

Stevens, M.

Additional information is available for the following registered author(s):

Margaret Stevens

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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Article
- Margaret Stevens, 2004. "Wage-Tenure Contracts in a Frictional Labour Market: Firms' Strategies for Recruitment and Retention," Review of Economic Studies, Blackwell Publishing, vol. 71(2), pages 535-551, 04. [Downloadable!] (restricted)

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

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- Adda & Dustmann, 2004. "Career Progression and Formal versus on the Job Training," Econometric Society 2004 North American Winter Meetings 492, Econometric Society. [Downloadable!]
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Carlos Carrillo Tudela, 2005. "Wage-Experience Contracts and Employment Status," Economics Discussion Papers 600, University of Essex, Department of Economics. [Downloadable!]
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