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Efficient Learning and Job Turnover in the Labor Market

  • Fei Li

    ()

    (Department of Economics, University of Pennsylvania)

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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
Date of revision:
Handle: RePEc:pen:papers:13-023
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  1. Espen R. Moen & �sa Rosén, 2004. "Does Poaching Distort Training?," Review of Economic Studies, Oxford University Press, vol. 71(4), pages 1143-1162.
  2. Shi, Shouyong, 2001. "Frictional Assignment. I. Efficiency," Journal of Economic Theory, Elsevier, vol. 98(2), pages 232-260, June.
  3. Moen, Espen R, 1997. "Competitive Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 385-411, April.
  4. Shouyong Shi, 2008. "Directed Search for Equilibrium Wage-Tenure Contracts," Working Papers tecipa-343, University of Toronto, Department of Economics.
  5. Guido Menzio & Irina A. Telykova & Ludo Visschers, 2012. "Directed search over the life cycle," Economics Working Papers we1210, Universidad Carlos III, Departamento de Economía.
  6. 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.
  7. 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.
  8. Melissa Bjelland & Bruce Fallick & John Haltiwanger & Erika McEntarfer, 2007. "Employer-to-employer flows in the United States: estimates using linked employer-employee data," Finance and Economics Discussion Series 2007-30, Board of Governors of the Federal Reserve System (U.S.).
  9. Flinn, Christopher J, 1986. "Wages and Job Mobility of Young Workers," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages S88-S110, June.
  10. Guido Menzio & Shouyong Shi, 2009. "Block Recursive Equilibria for Stochastic Models of Search on the Job," Working Papers tecipa-347, University of Toronto, Department of Economics.
  11. Jovanovic, Boyan, 1984. "Matching, Turnover, and Unemployment," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 108-22, February.
  12. 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.
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