Wages, Separations, and Job Tenure: On-the-Job Specific Training or Matching?

Dale Mortensen

Journal of Labor Economics, 1988, vol. 6, issue 4, 445-71

Abstract: A general stochastic model of optimal job separation behavior is developed in this paper. The model nests both the job training and th e job-matching hypotheses of the wage-tenure relationship as special cases. The purpose of the paper is to compare the implications of the two hypotheses for job turnover. The principal theoretical result is that expected wealth-maximizing separation strategies are qualitatively identical under the two hypotheses. Although the empirical implications of the two hypotheses for observations on the distribution of completed job-spell lengths are similar as a conseque nce, they are not quite identical. Copyright 1988 by University of Chicago Press.

Date: 1988
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