Equilibrium Wage-Tenure Contracts
نویسندگان
چکیده
منابع مشابه
Equilibrium Wage - Tenure Contracts By
In this study we consider a labor market matching model where firms post wagetenure contracts and workers, both employed and unemployed, search for new job opportunities. Given workers are risk averse, we establish there is a unique equilibrium in the environment considered. Although firms in the market make different offers in equilibrium, all post a wage-tenure contract that implies a worker’...
متن کاملDirected Search for Equilibrium Wage-Tenure Contracts
I analyze the equilibrium in a labor market where firms offer wage-tenure contracts to direct the search of employed and unemployed workers. Each applicant observes all offers and there is no coordination among individuals. Workers’ applications (as well as firms’ recruiting decisions) are optimal. This optimality requires the equilibrium to be formulated differently from the that in the litera...
متن کاملDiscrimination in the Equilibrium Search Model with Wage-Tenure Contracts
This paper extends Burdett and Coles (2003)’s search model to two types of workers and firms and derives the equilibrium earnings distributions for both types of workers. It is proven that minority workers have a higher unemployment rate than majority workers; discriminating firms make lower profit than non-discriminating firms; offers to minority workers by non-discriminating firms are consist...
متن کاملWage-tenure Contracts, Experience and Employment Status
The objective of this paper is to study equilibrium in a labour market with search frictions à la Burdett and Mortensen (1998). Identical firms post wage-contracts and ex-ante identical workers search for a job while unemployed and for a better one while employed. Although this situation has been analysed before, Stevens (2004) and Burdett and Coles (2003), the main novelty of this paper is to ...
متن کاملWage/tenure contracts with heterogeneous firms
This paper investigates equilibria in a labor market where heterogeneous rms post wage/tenure contracts and risk-averse workers, both employed and unemployed, search for new job opportunities. Di¤erent rms, even those with the same productivity, typically o¤er di¤erent contracts. Equilibrium nds workers never quit from higher productivity rms to lower productivity rms, but turnover is ine¢...
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ژورنال
عنوان ژورنال: Econometrica
سال: 2003
ISSN: 0012-9682,1468-0262
DOI: 10.1111/1468-0262.00453