Job Ladders and Earnings of Displaced Workers

• 成果类型: Article
• 署名作者: Krolikowski, Pawel
• 署名单位: Federal Reserve System - USA; Federal Reserve Bank - Cleveland
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20140064
• 发表日期: 2017
• 页码: 1-31
• 关键词: equilibrium unemployment; employment fluctuations; cyclical behavior; wage dispersion; labor mobility; life-cycle; search; Heterogeneity; turnover; losses

摘要

Workers who suffer job displacement experience surprisingly large and persistent earnings losses. This paper proposes an explanation for this robust empirical puzzle in a model of search with a significant job ladder and increased separation rates for the recently hired. In addition to capturing the depth and persistence of displaced worker earnings losses, the model matches: employment-to-nonemployment and employer-to-employer probabilities by tenure; the empirical decomposition of earnings losses into reduced wages and employment; observed wage dispersion; and the distribution of wage changes around a nonemployment event.