Job Duration, Seniority and Earnings
An important stylized fact about labor markets is that workers with longer seniority with their current employer have higher earnings than other workers with the same total labor market experience. This study shows that workers in longer jobs earn more throughout than workers in a series of shorter jobs and that the measured positive cross-sectional return seniority is largely a statistical artifact due to the correlation of seniority with an omitted variable representing the quality of the worker, the job, or the worker-employer match. The implication is tha t earnings do not, in fact, rise very much with seniority. Copyright 1987 by American Economic Association.
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| Length: | |
| Date of creation: | Jan 1986 |
| Date of revision: | |
| Handle: | RePEc:mit:worpap:407 |
| Contact details of provider: | Postal: Phone: (617) 253-3361 Fax: (617) 253-1330 Web page: http://econ-www.mit.edu/ More information through EDIRC
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Thomas Sargent, . "Matlab code for Jovanovic's matching model," QM&RBC Codes 24, Quantitative Macroeconomics & Real Business Cycles.
- Robert E. Hall, 1984.
"The Importance of Lifetime Jobs in the U.S. Economy,"
NBER Working Papers
0560, National Bureau of Economic Research, Inc.
- Hall, Robert E, 1982. "The Importance of Lifetime Jobs in the U.S. Economy," American Economic Review, American Economic Association, vol. 72(4), pages 716-24, September.
- E.K. Berndt & B.H. Hall & R.E. Hall, 1974. "Estimation and Inference in Nonlinear Structural Models," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 3, number 4, pages 103-116 National Bureau of Economic Research, Inc.
- Altonji, Joseph G & Shakotko, Robert A, 1987.
"Do Wages Rise with Job Seniority?,"
Review of Economic Studies,
Wiley Blackwell, vol. 54(3), pages 437-59, July.
- Joseph Altonji & R. Shakotko, 1985. "Do Wages Rise with Job Seniority?," Working Papers 567, Princeton University, Department of Economics, Industrial Relations Section..
- Joseph G. Altonji & Robert A. Shakotko, 1985. "Do Wages Rise With Job Seniority?," NBER Working Papers 1616, National Bureau of Economic Research, Inc.
- Katharine G. Abraham & James L. Medoff, 1983. "Length of Service and the Operation of Internal Labor Markets," NBER Working Papers 1085, National Bureau of Economic Research, Inc.
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