Job Search, Bargaining, and Wage Dynamics

• 成果类型: Article
• 署名作者: Yamaguchi, Shintaro
• 署名单位: McMaster University
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/651954
• 发表日期: 2010
• 页码: 595-631
• 关键词: young men; seniority; mobility; rise; TRANSITION; earnings; models

摘要

This article constructs and estimates a model of wage bargaining with on-the-job search to explore three different components of wages: general human capital, match-specific capital, and outside options. As the workers find better job opportunities, the current employer has to compete with outside firms to retain them. This between-firm competition results in wage growth even when productivity remains the same. The model is estimated by a simulated minimum distance estimator and data from the 1979 National Longitudinal Study of Youth. The results indicate that the improved value of the outside option raises wages by 14%-16% in the first 5 years.