Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/19152 
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dc.contributor.authorBuhai, I. Sebastianen
dc.contributor.authorTeulings, Coen N.en
dc.date.accessioned2009-01-28T15:55:25Z-
dc.date.available2009-01-28T15:55:25Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/19152-
dc.description.abstractThis 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.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1688en
dc.subject.jelC51en
dc.subject.jelC52en
dc.subject.jelJ63en
dc.subject.ddc330en
dc.subject.keywordrandom productivity growthen
dc.subject.keywordefficient bargainingen
dc.subject.keywordjob tenureen
dc.subject.keywordinverse gaussianen
dc.subject.keywordwage-tenure profilesen
dc.subject.keywordoption theoryen
dc.subject.stwBetriebszugehörigkeiten
dc.subject.stwLohnen
dc.subject.stwErwerbsverlaufen
dc.subject.stwVerhandlungstheorieen
dc.subject.stwRealoptionen
dc.titleTenure profiles and efficient separation in a stochastic productivity model-
dc.typeWorking Paperen
dc.identifier.ppn510037232en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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