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Autor:innen: 
Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
Working Paper No. 2001:4
Verlag: 
Institute for Labour Market Policy Evaluation (IFAU), Uppsala
Zusammenfassung: 
This paper investigates the consequences of skill loss as a result of unemployment in an efficiency wage model with turnover costs and on-the-job search. Firms are unable to differentiate wages and therefore prefer to hire employed searchers or unemployed workers who have not lost human capital. It is shown that if some fundamental factor in the economy changes, this will result in a lengthy adjustment process with substantial long run unemployment effects. Moreover, the model is capable of generating persistence but the amount depends on the duration of the shock itself
Schlagwörter: 
Efficiency wage
Turnover
On-the-job search
Skill loss
Persistence
Short- and long term unemployment
JEL: 
E24
J64
Dokumentart: 
Working Paper

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