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Efficient Learning and Job Turnover in the Labor Market

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  • Fei Li

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    (Department of Economics, University of Pennsylvania)

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Abstract

This paper studies the dynamics of workers. on-the-job search behavior and its consequences in an equilibrium labor market. In a model with both directed search and learning about the match quality of firm-worker pairs, I highlight the job search target effect of learning: as a worker updates the evaluation of his current job, he adjusts his on-the-job search target, which results in a different job finding rate. This model generates a non-monotonic relation between the employment-to-employment transition rate and tenure, which provides a new explanation of the hump-shaped separation rate-tenure profile

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File URL: http://economics.sas.upenn.edu/sites/economics.sas.upenn.edu/files/13-023_0.pdf
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Bibliographic Info

Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 13-023.

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Length: 23 pages
Date of creation: 19 Apr 2013
Date of revision:
Handle: RePEc:pen:papers:13-023

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Related research

Keywords: Learning; Directed Search; Job Turnover; On-the-job Search; Employment-to-employment Transition;

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References

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  1. Guido Menzio & Irina A. Telyukova & Ludo Visschers, 2012. "Directed Search over the Life Cycle," PIER Working Paper Archive 12-002, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  2. Shouyong Shi, 2006. "Directed Search for Equilibrium Wage-Tenure Contracts," Working Papers tecipa-260, University of Toronto, Department of Economics.
  3. Espen R. Moen & Asa Rosén, 2004. "Does Poaching Distort Training?," Review of Economic Studies, Wiley Blackwell, vol. 71(4), pages 1143-1162, October.
  4. Moen, Espen R, 1997. "Competitive Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 385-411, April.
  5. Melissa Bjelland & Bruce Fallick & John Haltiwanger & Erika McEntarfer, 2007. "Employer-to-employer flows in the United States: estimates using linked employer-employee data," Finance and Economics Discussion Series 2007-30, Board of Governors of the Federal Reserve System (U.S.).
  6. Guido Menzio & Shouyong Shi, 2009. "Block Recursive Equilibria for Stochastic Models of Search on the Job," PIER Working Paper Archive 09-005, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  7. Jacob Mincer & Boyan Jovanovic, 1981. "Labor Mobility and Wages," NBER Chapters, in: Studies in Labor Markets, pages 21-64 National Bureau of Economic Research, Inc.
  8. Shi, Shouyong, 2001. "Frictional Assignment. I. Efficiency," Journal of Economic Theory, Elsevier, vol. 98(2), pages 232-260, June.
  9. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-90, October.
  10. Flinn, Christopher J, 1986. "Wages and Job Mobility of Young Workers," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages S88-S110, June.
  11. Jovanovic, Boyan, 1984. "Matching, Turnover, and Unemployment," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 108-22, February.
  12. Espen R. Moen & �sa Rosén, 2004. "Does Poaching Distort Training?," Review of Economic Studies, Oxford University Press, vol. 71(4), pages 1143-1162.
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