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https://hdl.handle.net/10419/19152
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Buhai, I. Sebastian | en |
dc.contributor.author | Teulings, Coen N. | en |
dc.date.accessioned | 2009-01-28T15:55:25Z | - |
dc.date.available | 2009-01-28T15:55:25Z | - |
dc.date.issued | 2006 | - |
dc.identifier.uri | http://hdl.handle.net/10419/19152 | - |
dc.description.abstract | This paper provides a new way of analyzing tenure profiles in wages, by modellingsimultaneously the evolution of wages and the distribution of tenures. We develop atheoretical model based on efficient bargaining, where both log outside wage and log wage inthe current job follow a random walk, as found empirically. This setting allows theapplication of real option theory. We derive the efficient separation rule. The model fits theobserved distribution of job tenures well. Since we observe outside wages only at job start andjob separation, our empirical analysis of within job wage growth is based on expected wagegrowth conditional on the outside wages at both dates. Our modelling allows testing of theefficient bargaining hypothesis. The model is estimated on the PSID. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x1688 | en |
dc.subject.jel | C51 | en |
dc.subject.jel | C52 | en |
dc.subject.jel | J63 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | random productivity growth | en |
dc.subject.keyword | efficient bargaining | en |
dc.subject.keyword | job tenure | en |
dc.subject.keyword | inverse gaussian | en |
dc.subject.keyword | wage-tenure profiles | en |
dc.subject.keyword | option theory | en |
dc.subject.stw | Betriebszugehörigkeit | en |
dc.subject.stw | Lohn | en |
dc.subject.stw | Erwerbsverlauf | en |
dc.subject.stw | Verhandlungstheorie | en |
dc.subject.stw | Realoption | en |
dc.title | Tenure profiles and efficient separation in a stochastic productivity model | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 510037232 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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