Cohort Wage Profiles in an Internal Labour Market
This paper investigates the movement of cohort wages in an internal labour market of a large British financial institution. The main objective of the analysis is to establish whether movements of cohort wages over time in this particular institution are consistent with the theoretical notion of an internal labour market as defined in the literature. The paper follows closely the analysis of aggregate mean cohort wages as outlined in Baker, Gibbs and Holmstrom (1994b). We find some evidence of the existence of an internal labour market in that employees are shielded from external market conditions.
|Date of creation:||04 Jun 2003|
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