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Experience and Worker Flows

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  • Gorry, Aspen

Abstract

This paper extends the literature on learning in labor markets by parameterizing the amount of learning that transfers across jobs. Previous models have assumed that learning is either job specific as in Jovanovic (1979) or perfectly transferable across jobs as in Gibbons et al. (2005). By allowing some but not all learning to be transferred, this model generates novel predictions of a decline in job finding rates with age and a decline in the variance of wages with experience that are consistent with observed worker outcomes.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 25298.

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Date of creation: 07 Jul 2010
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Handle: RePEc:pra:mprapa:25298

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Keywords: Job finding rate; job separation rate; experience; wage volatility;

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References

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  1. Joseph G. Altonji & Nicolas Williams, 2005. "Do wages rise with job seniority? A reassessment," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 58(3), pages 370-397, April.
  2. Kim B. Clark & Lawrence H. Summers, 1982. "Labor Force Participation: Timing and Persistence," NBER Working Papers 0977, National Bureau of Economic Research, Inc.
  3. Farber, Henry S & Gibbons, Robert, 1996. "Learning and Wage Dynamics," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 111(4), pages 1007-47, November.
  4. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 87(5), pages 972-90, October.
  5. Francisco M. Gonzalez & Shouyong Shi, 2010. "An Equilibrium Theory of Learning, Search, and Wages," Econometrica, Econometric Society, Econometric Society, vol. 78(2), pages 509-537, 03.
  6. Ronni Pavan, 2010. "The Role of Career Choice in Understanding Job Mobility," LABOUR, CEIS, CEIS, vol. 24(2), pages 107-127, 06.
  7. McCall, Brian P, 1990. "Occupational Matching: A Test of Sorts," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(1), pages 45-69, February.
  8. Koenker,Roger, 2005. "Quantile Regression," Cambridge Books, Cambridge University Press, number 9780521845731, 9.
  9. Flinn, Christopher J, 1986. "Wages and Job Mobility of Young Workers," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 94(3), pages S88-S110, June.
  10. Altonji, Joseph G & Shakotko, Robert A, 1987. "Do Wages Rise with Job Seniority?," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 54(3), pages 437-59, July.
  11. Meghir, Costas & Pistaferri, Luigi, 2002. "Income Variance Dynamics and Heterogeneity," CEPR Discussion Papers 3632, C.E.P.R. Discussion Papers.
  12. Giuseppe Moscarini, 2005. "Job Matching and the Wage Distribution," Econometrica, Econometric Society, Econometric Society, vol. 73(2), pages 481-516, 03.
  13. Rubinstein, Yona & Weiss, Yoram, 2006. "Post Schooling Wage Growth: Investment, Search and Learning," Handbook of the Economics of Education, Elsevier, Elsevier.
  14. Robert Shimer, 2012. "Reassessing the Ins and Outs of Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(2), pages 127-148, April.
  15. Chade, Hector & Schlee, Edward, 2002. "Another Look at the Radner-Stiglitz Nonconcavity in the Value of Information," Journal of Economic Theory, Elsevier, vol. 107(2), pages 421-452, December.
  16. Theodore Papageorgiou, 2009. "Learning Your Comparative Advantages," 2009 Meeting Papers, Society for Economic Dynamics 1150, Society for Economic Dynamics.
  17. Ann P. Bartel & George J. Borjas, 1981. "Wage Growth and Job Turnover: An Empirical Analysis," NBER Chapters, in: Studies in Labor Markets, pages 65-90 National Bureau of Economic Research, Inc.
  18. Derek Neal, 1998. "The Complexity of Job Mobility Among Young Men," NBER Working Papers 6662, National Bureau of Economic Research, Inc.
  19. Fabian Lange, 2007. "The Speed of Employer Learning," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 25, pages 1-35.
  20. Miller, Robert A, 1984. "Job Matching and Occupational Choice," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 92(6), pages 1086-120, December.
  21. Neal, Derek & Rosen, Sherwin, 2000. "Theories of the distribution of earnings," Handbook of Income Distribution, Elsevier, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 7, pages 379-427 Elsevier.
  22. Robert H. Topel & Michael P. Ward, 1988. "Job Mobility and the Careers of Young Men," NBER Working Papers 2649, National Bureau of Economic Research, Inc.
  23. Ronni Pavan, 2006. "Career Choice and Wage Growth," 2006 Meeting Papers, Society for Economic Dynamics 504, Society for Economic Dynamics.
  24. Baker, George & Gibbs, Michael & Holmstrom, Bengt, 1994. "The Wage Policy of a Firm," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 109(4), pages 921-55, November.
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Cited by:
  1. Carlos Carrillo-Tudela (University of Essex, CESifo and IZA) & Ludo Visschers (The University of Edinburgh & Universidad Carlos III, Madrid), 2014. "Unemployment and Endogenous Reallocation over the Business Cycle," ESE Discussion Papers 241, Edinburgh School of Economics, University of Edinburgh.
  2. Ludo Visschers & Irina A. Telyukova & Guido Menzio, 2010. "Directed Search over the Life Cycle," 2010 Meeting Papers 185, Society for Economic Dynamics.
  3. Esteban-Pretel, Julen & Fujimoto, Junichi, 2012. "Life-cycle search, match quality and Japan’s labor market," Journal of the Japanese and International Economies, Elsevier, vol. 26(3), pages 326-350.
  4. Katarina Borovickova, 2012. "Learning and Labor Market Flows," 2012 Meeting Papers, Society for Economic Dynamics 652, Society for Economic Dynamics.
  5. Gorry, Aspen, 2013. "Minimum wages and youth unemployment," European Economic Review, Elsevier, vol. 64(C), pages 57-75.

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