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A Feasible Equilibrium Search Model of Individual Wage Dynamics with Experience Accumulation

Author

Listed:
  • Jesper Bager
  • Francois Fontaine
  • Fabien Postel-Vinay
  • Jean-Marc Robin

Abstract

We present a tractable equilibrium job search model of individual worker careers allowing for human capital accumulation, employer heterogeneity and individual-level shocks. We estimate our structural model on a panel of Danish matched employer-employee data and use it to analyze the determinants of wage dispersion and individual wage dynamics. Our main motivation for doing this is to quantify the respective roles of human capital accumulation coming along with work experience and the forces of labor market competition activated by workers' job search behavior in shaping individual labor earnings dynamics over the life cycle. We shall pay particular attention to the definition of differences between the returns to work experience as opposed to the returns to tenure at a particular firm

Suggested Citation

  • Jesper Bager & Francois Fontaine & Fabien Postel-Vinay & Jean-Marc Robin, 2006. "A Feasible Equilibrium Search Model of Individual Wage Dynamics with Experience Accumulation," 2006 Meeting Papers 679, Society for Economic Dynamics.
  • Handle: RePEc:red:sed006:679
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    Cited by:

    1. Theodore Papageorgiou, 2009. "Learning Your Comparative Advantages," 2009 Meeting Papers 1150, Society for Economic Dynamics.
    2. Carrillo-Tudela, Carlos & Kaas, Leo, 2011. "Wage Dispersion and Labor Turnover with Adverse Selection," IZA Discussion Papers 5936, Institute for the Study of Labor (IZA).
    3. Sarah Le Duigou, 2012. "L'effet de l'âge sur la distribution des salaires," Revue française d'économie, Presses de Sciences-Po, vol. 0(1), pages 163-185.
    4. Sarah Le Duigou, 2012. "Effect of Age on the Wage Distribution: A Quantitative Evaluation Using US Data," Working Papers halshs-00856225, HAL.
    5. Kenneth L. Sørensen & Rune Vejlin, 2014. "Return To Experience And Initial Wage Level: Do Low Wage Workers Catch Up?," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 29(6), pages 984-1006, September.
    6. Carlos Carrillo-Tudela, 2010. "Job Search, Human Capital and Wage Inequality," 2010 Meeting Papers 723, Society for Economic Dynamics.
    7. Chao Fu, 2011. "Training, Search and Wage Dispersion," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(4), pages 650-666, October.
    8. Xiao, Chaoqun & Tang, Wansheng & Zhao, Ruiqing & Zhou, Chi, 2013. "Equilibrium search with heterogeneous firms, workers and endogenous human capital," MPRA Paper 52136, University Library of Munich, Germany.
    9. Ken Burdett & Melvyn Coles, 2010. "Tenure and Experience Effects on Wages: A Theory," CESifo Working Paper Series 3203, CESifo Group Munich.

    More about this item

    Keywords

    Equilibrium search;

    JEL classification:

    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs

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