Searching for Better Prospects: Endogenizing Falling Job Tenure and Private Pension Coverage / Leora Friedberg, Michael T. Owyang, Tara M. Sinclair.
Material type:
TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w11808.Publication details: Cambridge, Mass. National Bureau of Economic Research 2005.Description: 1 online resource: illustrations (black and white)Subject(s): - E24 - Employment • Unemployment • Wages • Intergenerational Income Distribution • Aggregate Human Capital • Aggregate Labor Productivity
- J32 - Nonwage Labor Costs and Benefits • Retirement Plans • Private Pensions
- J41 - Labor Contracts
- J63 - Turnover • Vacancies • Layoffs
- J64 - Unemployment: Models, Duration, Incidence, and Job Search
- Hardcopy version available to institutional subscribers
| Item type | Home library | Collection | Call number | Status | Date due | Barcode | Item holds | |
|---|---|---|---|---|---|---|---|---|
| Working Paper | Biblioteca Digital | Colección NBER | nber w11808 (Browse shelf(Opens below)) | Not For Loan |
December 2005.
Recent declines in job tenure have coincided with a shift away from traditional defined benefit (DB) pensions, which reward long tenure. Recent evidence also points to an increase in job-to-job movements by workers, and we document gains in relative wages of job-to-job movers over a similar period. We develop a search model in which firms may offer tenure-based contracts like DB pensions to reduce the incidence of costly on-the-job search by workers. Reduced search costs can, under fairly general conditions, lower the value of deterring search and the use of DB pensions.
Hardcopy version available to institutional subscribers
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