We consider a model of on-the-job search where firms offer long-term wage contracts to workers of different ability. Firms do not observe worker ability upon hiring but learn it gradually over time. With sufficiently strong information frictions, low-wage firms offer separating contracts and hire all types of workers in equilibrium, whereas high-wage firms offer pooling contracts designed to re...

I construct an equilibrium model of the labor market where workers and firms enter into dynamic contracts that can potentially last forever, but are subject to optimal terminations. Upon a termination, the firm hires a new worker, and the worker who is terminated receives a termination contract from the firm and is then free to go back to the labor market to seek new employment opportunities an...

Article history: Received 17 September 2013 Received in revised form 1 March 2014 Accepted 11 March 2014 Available online 19 March 2014 Most studies consider chief executive officer (CEO) turnover from the firm's perspective. In this paper, I suggest that the labor market conditions for CEOs affect turnover outcomes. I use CEOs' positions on corporate executive and director networks to assess t...

Abstract—Thanks to informational technologies development every sphere of economics is becoming more and more datacentralized as people are generating huge datasets containing information on any aspect of their life. Applying research of such data to human resources management allows getting scarce statistics on labor market state including salary expectations and potential employees’ typical c...

Controlling the good staff turnover rate is helpful to improve service quality of hotel, reduce labor cost and create economic benefits, so as better adapt high speed development. This paper takes hotel research object makes an in-depth study on relevant factors affecting their turnover. On basis literature research, hypothesis put forward, questionnaire designed, multivariate statistical regre...

This paper presents a theoretical model that combines employers learning about worker productivity, human capital acquisition, job-assignment and resolution of worker uncertainty regarding disutility of work from a job, to show how widely documented findings on both wage and promotion dynamics and turnover can be captured in a single set-up. Specifically we show how our model can capture result...

We investigate the effects of the institutional settings of the US health care system on individuals' life-cycle medical expenditures. Health is a form of general human capital; labor turnover and labor-market frictions prevent an employer-employee pair from capturing the entire surplus from investment in an employee’s health. Thus, the pair underinvests in health during working years, thereby ...

Resource booms can affect student achievement through greater labor demand, where rising wages pull students or teachers out of schools, and through an expanded tax base, where increased school spending alters teacher quality or student productivity. Using shale depth variation across Texas school districts with annual oil and gas price variation, this study finds that resource development slig...

We survey the literature on search-theoretic models of the labor market. We show how this approach addresses many issues, including the following: Why do workers sometimes choose to remain unemployed? What determines the lengths of employment and unemployment spells? How can there simultaneously exist unemployed workers and unfilled vacancies? What determines aggregate unemployment and vacancie...

We describe a competitive model of worker turnover and labor earnings that is consistent with features of labor markets often used to motivate non-competitive models. In our model, as in the data, observationally identical workers earn different wages in different firms and industries. This is because workers employed in firms more likely to survive devote more time to human capital accumulatio...