Job Dynamics, Correlated Shocks and Wage Profiles

Cabrales, Antonio; Hopenhayn, Hugo

dc.contributor.author	Cabrales, Antonio
dc.contributor.author	Hopenhayn, Hugo
dc.date.accessioned	2009-01-26T11:54:45Z
dc.date.available	2009-01-26T11:54:45Z
dc.date.issued	1998
dc.identifier.uri	http://hdl.handle.net/10016/3493
dc.description.abstract	We generalize the Mortensen-Pissarides (1994) model of the labor market with a more realistic structure for the stochastic process of the shocks to the worker- rm match. In this way we can acommodate the empirical observation that hazard rates of job termination decrease and average wages increase with job tenure. Besides being able to t better some observables of the model, the changes we introduce are nontrivial for the analysis of policies as well.
dc.format.mimetype	application/pdf
dc.language.iso	eng
dc.publisher	Universidad Pompeu Fabra. Departamento de Economia y Empresa
dc.relation.ispartofseries	Working Papers;
dc.relation.ispartofseries	1998-260
dc.subject	Layolf costs
dc.subject	search
dc.subject	layolf hazard rates
dc.subject	wage-tenure relationship
dc.title	Job Dynamics, Correlated Shocks and Wage Profiles
dc.type	workingPaper
dc.relation.publisherversion	http://hdl.handle.net/2072/406
dc.subject.jel	J60
dc.subject.jel	J30
dc.subject.eciencia	Economía
dc.rights.accessRights	openAccess