Unemployment and re-employment of displaced workers
Examines the incidence and adjustment experiences of workers who are displaced by economic change. Since the mid-1970s, the aggregate annual rate of retrenchment has fluctuated in a counter-cyclical pattern around a relatively stable long-term trend of about 5 per cent. The paper shows that the probability of retrenchment and the nature of post-retrenchment adjustment varies between different groups of workers and depends on general economic conditions.
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- Topel, Robert H, 1991.
"Specific Capital, Mobility, and Wages: Wages Rise with Job Seniority,"
Journal of Political Economy,
University of Chicago Press, vol. 99(1), pages 145-76, February.
- Robert H. Topel, 1990. "Specific Capital, Mobility, and Wages: Wages Rise with Job Seniority," NBER Working Papers 3294, National Bureau of Economic Research, Inc.
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