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Author: Teulings, Coen
Resulting in 2 citations.
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Gottfries, Axel Teulings, Coen |
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Returns to On-the-job Search and the Dispersion of Wages Discussion Paper No. CFM-DP2016-29, Centre for Macroeconomics, London, October 2016. Also: http://www.centreformacroeconomics.ac.uk/Discussion-Papers/2016/CFMDP2016-29-Paper.pdf Cohort(s): NLSY79 Publisher: Centre for Macroeconomics Keyword(s): Job Search; Layoffs; Wages Permission to reprint the abstract has not been received from the publisher. A wide class of models with On-the-Job Search (OJS) predicts that workers gradually select into better-paying jobs, until lay-off occurs, when this selection process starts over from scratch. We develop a simple methodology to test these predictions. Our inference uses two sources of identification to distinguish between returns to experience and the gains from OJS: (i) time-variation in job-finding rates and (ii) the time since the last lay-off. Conditional on the termination date of the job, job duration should be distributed uniformly. Using extreme value theory, we can infer the shape of the wage-offer distribution from the effect of the time since the last lay-off on wages. This methodology is applied to the NLSY 79. We find remarkably strong support for all implications. |
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Bibliography Citation
Gottfries, Axel and Coen Teulings. "Returns to On-the-job Search and the Dispersion of Wages." Discussion Paper No. CFM-DP2016-29, Centre for Macroeconomics, London, October 2016. |
| 2. |
Gottfries, Axel Teulings, Coen |
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Returns to On-The-Job Search and Wage Dispersion Labour Economics published online (17 November 2022): 102292. Also: https://www.sciencedirect.com/science/article/pii/S0927537122001828 Cohort(s): NLSY79 Publisher: Elsevier Keyword(s): Job Search; Layoffs; Wages A wide class of models with On-the-Job Search (OJS) predict that workers gradually select into better jobs. We develop a simple method based on the expected number of job offers received that can be used to measure match quality, identify the wage offer distribution and estimate the contribution of OJS to wage dispersion and the increase in wages over the lifecycle. The method uses two sources of identification: (i) time variation in job-finding rates and (ii) individual variation in the time since the last layoff. Applying this method to the NLSY79, we find that the standard deviation of the wage-offer distribution is 13% and that OJS accounts for 8% of the total wage dispersion and 30% of the wage-increase over the lifecycle. |
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Bibliography Citation
Gottfries, Axel and Coen Teulings. "Returns to On-The-Job Search and Wage Dispersion." Labour Economics published online (17 November 2022): 102292.
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