| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3964 |
| DP3964 Tender Offers and Leverage | |
| Fausto Panunzi; Holger Mueller | |
| 发表日期 | 2003-07-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | Labour market theories allowing for search frictions make marked predictions on the effect of the degree of frictions on wages. Often, the effect is predicted to be negative. Despite the popularity of these theories, this has never been tested. We perform tests with matched worker-firm data. The worker data are informative on individual wages and labour market transitions, and this allows for estimation of the degree of search frictions. The firm data are informative on labour productivity. The matched data provide the skill composition in different markets. Together this allows us to investigate how the mean difference between labour productivity and wages in a market depends on the degree of frictions and other determinants. We correct for worker self-selection into high-wage jobs. Using within-market variation, we also investigate the extent of (and explanations for) positive assortative matching. |
| 主题 | Labour Economics |
| 关键词 | Labour market imperfections Job durations Productivity Heterogeneity Sorting Assortative matching |
| URL | https://cepr.org/publications/dp3964 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532946 |
| 推荐引用方式 GB/T 7714 | Fausto Panunzi,Holger Mueller. DP3964 Tender Offers and Leverage. 2003. |
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