Equilibrium Wage and Dismissal Processes
The author develops and estimates an equilibrium model of the labor market in which inefficient employees are systematically eliminated from the sector of the market characterized by asymmetric information and moral hazard. Systematic selection on the distribution of productivity characteristics produces wage sequences which are increasing in tenure for employees never previously terminated even in the absence of long-term contracting between employees and individual firms. The author provides sufficient conditions for there to exist an unique termination-contract type equilibrium and he estimates the equilibrium model using micro-level data from the National Longitudinal Survey of Youth panel.
(This abstract was borrowed from another version of this item.)
|Date of creation:||1991|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (212) 998-8936
Fax: (212) 995-3932
Web page: http://econ.as.nyu.edu/object/econ.cvstarr.htmlEmail:
More information through EDIRC
|Order Information:|| Postal: C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012|
When requesting a correction, please mention this item's handle: RePEc:cvs:starer:91-15. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anne Stubing)
If references are entirely missing, you can add them using this form.