Interfirm Mobility, Wages and the Returns to Seniority and Experience in the United States

• 成果类型: Article
• 署名作者: Buchinsky, Moshe; Fougere, Denis; Kramarz, Francis; Tchernis, Rusty
• 署名单位: University of California System; University of California Los Angeles; National Bureau of Economic Research; Institut Polytechnique de Paris; ENSAE Paris; Centre National de la Recherche Scientifique (CNRS); University System of Georgia; Georgia State University
• 刊物名称: REVIEW OF ECONOMIC STUDIES
• ISSN/ISSBN: 0034-6527
• DOI: 10.1111/j.1467-937X.2010.598.x
• 发表日期: 2010
• 页码: 972-1001
• 关键词: job search; MODEL; rise; duration

摘要

In this paper, we expand on the seminal work of Altonji and Shakotko (1987) and Topel (1991) and reinvestigate the returns to seniority in the United States. We begin with the same wage equation as in previous studies. We extend the model of Hyslop (1999) and explicitly model the participation/employment and inter-firm mobility decisions, which, in turn, define the individual's experience and seniority. We introduce into the wage equation a summary of the workers' entire career path. The three-equation system is estimated simultaneously using data from the Panel Study of Income Dynamics (PSID). We find that for each of the three education groups studied the returns to seniority are larger than those previously found in the literature.