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dc.contributor.authorBuhai, I. Sebastianen_US
dc.contributor.authorTeulings, Coen N.en_US
dc.date.accessioned2009-01-28T15:55:25Z-
dc.date.available2009-01-28T15:55:25Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/19152-
dc.description.abstractThis paper provides a new way of analyzing tenure profiles in wages, by modelling simultaneously the evolution of wages and the distribution of tenures. We develop a theoretical model based on efficient bargaining, where both log outside wage and log wage in the current job follow a random walk, as found empirically. This setting allows the application of real option theory. We derive the efficient separation rule. The model fits the observed distribution of job tenures well. Since we observe outside wages only at job start and job separation, our empirical analysis of within job wage growth is based on expected wage growth conditional on the outside wages at both dates. Our modelling allows testing of the efficient bargaining hypothesis. The model is estimated on the PSID.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesCESifo working papers 1688en_US
dc.subject.jelC51en_US
dc.subject.jelC52en_US
dc.subject.jelJ63en_US
dc.subject.ddc330en_US
dc.subject.keywordrandom productivity growthen_US
dc.subject.keywordefficient bargainingen_US
dc.subject.keywordjob tenureen_US
dc.subject.keywordinverse gaussianen_US
dc.subject.keywordwage-tenure profilesen_US
dc.subject.keywordoption theoryen_US
dc.subject.stwBetriebszugehörigkeiten_US
dc.subject.stwLohnen_US
dc.subject.stwErwerbsverlaufen_US
dc.subject.stwVerhandlungstheorieen_US
dc.subject.stwRealoptionen_US
dc.titleTenure profiles and efficient separation in a stochastic productivity modelen_US
dc.typeWorking Paperen_US
dc.identifier.ppn510037232en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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