Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/55671
Authors: 
Carrillo-Tudela, Carlos
Smith, Eric
Year of Publication: 
2012
Series/Report no.: 
CESifo working paper: Labour Markets 3741
Abstract: 
We construct a simple equilibrium search model in which workers accumulate information about previously met employment contacts. We term the latter search capital. Here search capital (partially) insures workers against adverse shocks. The model provides a theory of job-to-job transitions that are associated with voluntary or involuntary mobility and with wage rises or wage cuts. It also shows why low wage and younger workers are associated with a higher probability of becoming unemployed.
Subjects: 
search capital
turnover
wage cuts
JEL: 
J62
J63
J64
Document Type: 
Working Paper

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