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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.

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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Bibliographic 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/

Related research

Keywords: WORKERS' REPRESENTATION ; LABOUR MARKET;

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