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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. Neal, Derek, 1999. "The Complexity of Job Mobility among Young Men," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 17(2), pages 237-61, April.
  2. Brian P. McCall, 1988. "Occupational Matching: A Test of Sorts," Working Papers, Princeton University, Department of Economics, Industrial Relations Section. 617, Princeton University, Department of Economics, Industrial Relations Section..
  3. Francisco M. Gonzalez & Shouyong Shi, 2008. "An Equilibrium Theory of Learning, Search and Wages," Working Papers, University of Toronto, Department of Economics tecipa-328, University of Toronto, Department of Economics.
  4. Ronni Pavan, 2011. "Career Choice and Wage Growth," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 29(3), pages 549 - 587.
  5. Costas Meghir & Luigi Pistaferri, 2004. "Income Variance Dynamics and Heterogeneity," Econometrica, Econometric Society, Econometric Society, vol. 72(1), pages 1-32, 01.
  6. Joseph G. Altonji & Nicolas Williams, 1997. "Do Wages Rise with Job Seniority? A Reassessment," NBER Working Papers 6010, National Bureau of Economic Research, Inc.
  7. Joseph Altonji & R. Shakotko, 1985. "Do Wages Rise with Job Seniority?," Working Papers, Princeton University, Department of Economics, Industrial Relations Section. 567, Princeton University, Department of Economics, Industrial Relations Section..
  8. Ronni Pavan, 2010. "The Role of Career Choice in Understanding Job Mobility," LABOUR, CEIS, CEIS, vol. 24(2), pages 107-127, 06.
  9. Kim B. Clark & Lawrence H. Summers, 1982. "Labor Force Participation: Timing and Persistence," NBER Working Papers 0977, National Bureau of Economic Research, Inc.
  10. Roger Koenker & Kevin F. Hallock, 2001. "Quantile Regression," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 15(4), pages 143-156, Fall.
  11. Theodore Papageorgiou, 2009. "Learning Your Comparative Advantages," 2009 Meeting Papers, Society for Economic Dynamics 1150, Society for Economic Dynamics.
  12. 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.
  13. 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.
  14. Chade, Hector & Schlee, Edward, 2002. "Another Look at the Radner-Stiglitz Nonconcavity in the Value of Information," Journal of Economic Theory, Elsevier, Elsevier, vol. 107(2), pages 421-452, December.
  15. 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.
  16. 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.
  17. 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.
  18. Topel, Robert H & Ward, Michael P, 1992. "Job Mobility and the Careers of Young Men," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 107(2), pages 439-79, May.
  19. 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.
  20. Henry S. Farber & Robert Gibbons, 1991. "Learning and Wage Dynamics," NBER Working Papers 3764, National Bureau of Economic Research, Inc.
  21. 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.
  22. Rubinstein, Yona & Weiss, Yoram, 2006. "Post Schooling Wage Growth: Investment, Search and Learning," Handbook of the Economics of Education, Elsevier, Elsevier.
  23. 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.
  24. Giuseppe Moscarini, 2005. "Job Matching and the Wage Distribution," Econometrica, Econometric Society, Econometric Society, vol. 73(2), pages 481-516, 03.
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Citations

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Cited by:
  1. Carlos Carrillo-Tudela, 2012. "Unemployment and Endogenous Reallocation over the Business Cycle," 2012 Meeting Papers, Society for Economic Dynamics 1045, Society for Economic Dynamics.
  2. Katarina Borovickova, 2012. "Learning and Labor Market Flows," 2012 Meeting Papers, Society for Economic Dynamics 652, Society for Economic Dynamics.
  3. Gorry, Aspen, 2013. "Minimum wages and youth unemployment," European Economic Review, Elsevier, Elsevier, vol. 64(C), pages 57-75.
  4. Ludo Visschers & Irina Telyukova & Guido Menzio, 2011. "Directed search over the life cycle," 2011 Meeting Papers 1360, Society for Economic Dynamics.
  5. 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.

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