Wages, Training and Job Turnover in a Search-Matching Model
Michael Rosholm () and
Michael Svarer ()
No 223, IZA Discussion Papers from Institute of Labor Economics (IZA)
In this paper we extend a job search-matching model with firm-specific investments in training developed by Mortensen (2000) to allow for different offer arrival rates in employment and unemployment. The model by Mortensen changes the original wage posting model (Burdett and Mortensen, 1998) in two aspects. First, it provides a link between the wage posting framework and the search-matching framework (eg. Pissarides, 1990). Second, it improves the correspondence between the theoretical characterization of the endogeneously derived earnings density and the empirically observed earnings density. We subsequently estimate the model on Danish labour market data using a structural non-parametric estimation procedure. We find that the model provides a good characterization of some empirical features of the labor market.
Keywords: wage dispersion; matching; Search equilibrium; firm-specific human capital (search for similar items in EconPapers)
JEL-codes: C51 D83 J31 J41 J6 (search for similar items in EconPapers)
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Working Paper: Wages, Training, and Job Turnover in a Search-Matching Model (1999)
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