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Efficient Learning and Job Turnover in the Labor Market

Listed author(s):
  • Fei Li

    ()

    (Department of Economics, University of Pennsylvania)

Registered author(s):

This paper studies the dynamics of workers. on-the-job search behavior and its consequences in an equilibrium labor market. In a model with both directed search and learning about the match quality of firm-worker pairs, I highlight the job search target effect of learning: as a worker updates the evaluation of his current job, he adjusts his on-the-job search target, which results in a different job finding rate. This model generates a non-monotonic relation between the employment-to-employment transition rate and tenure, which provides a new explanation of the hump-shaped separation rate-tenure profile

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File URL: http://economics.sas.upenn.edu/sites/economics.sas.upenn.edu/files/13-023_0.pdf
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Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 13-023.

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Length: 23 pages
Date of creation: 19 Apr 2013
Handle: RePEc:pen:papers:13-023
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  1. Bjelland, Melissa & Fallick, Bruce & Haltiwanger, John & McEntarfer, Erika, 2011. "Employer-to-Employer Flows in the United States: Estimates Using Linked Employer-Employee Data," Journal of Business & Economic Statistics, American Statistical Association, vol. 29(4), pages 493-505.
  2. Jovanovic, Boyan, 1984. "Matching, Turnover, and Unemployment," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 108-122, February.
  3. Guido Menzio & Shouyong Shi, 2009. "Block Recursive Equilibria for Stochastic Models of Search on the Job," NBER Working Papers 14907, National Bureau of Economic Research, Inc.
  4. Guido Menzio & Irina A. Telyukova & Ludo Visschers, 2015. "Directed Search over the Life Cycle," ESE Discussion Papers 254, Edinburgh School of Economics, University of Edinburgh.
  5. Espen R. Moen & Åsa Rosén, 2004. "Does Poaching Distort Training?," Review of Economic Studies, Oxford University Press, vol. 71(4), pages 1143-1162.
  6. Guido Menzio & Shouyong Shi, 2008. "Efficient Search on the Job and the Business Cycle," PIER Working Paper Archive 08-029, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  7. Flinn, Christopher J, 1986. "Wages and Job Mobility of Young Workers," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 88-110, June.
  8. Pissarides, Christopher A. & Wadsworth, Jonathan, 1994. "On-the-job search: Some empirical evidence from Britain," European Economic Review, Elsevier, vol. 38(2), pages 385-401, February.
  9. Shouyong Shi, 2009. "Directed Search for Equilibrium Wage-Tenure Contracts," Econometrica, Econometric Society, vol. 77(2), pages 561-584, 03.
  10. Jacob Mincer & Boyan Jovanovic, 1981. "Labor Mobility and Wages," NBER Chapters, in: Studies in Labor Markets, pages 21-64 National Bureau of Economic Research, Inc.
  11. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-990, October.
  12. Moen, E.R., 1995. "Competitive Search Equilibrium," Memorandum 37/1995, Oslo University, Department of Economics.
  13. Shi, Shouyong, 2001. "Frictional Assignment. I. Efficiency," Journal of Economic Theory, Elsevier, vol. 98(2), pages 232-260, June.
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