| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP5480
|
| DP5480 Antitrust in Open Economies |
| Henrik Horn; Joseph Francois
|
| 发表日期 | 2006-02-06
|
| 出版年 | 2006
|
| 语种 | 英语
|
| 摘要 | We estimate a model of the joint participation and mobility along with the individuals' wage formation in France. Our model makes it possible to distinguish between unobserved person heterogeneity and state-dependence. We estimate the model using state of the art Bayesian methods employing a long panel (1976-1995) for France. Our results clearly show that returns to seniority are small, and for some education groups are close to zero. The specification here is the same as that used in Buchinsky, Fougère, Kramarz and Tchernis (2002) for the case of the United States, where the returns to seniority were found to be quite large. This result also holds when using the method employed by Altonji and Williams (1992) for both countries. It turns out that differences between the two countries relate to firm-to-firm mobility. Using a model of Burdett and Coles (2003), we explain the rationale for this phenomenon. Specifically, in a low-mobility country such as France, there is little gain in compensating workers for long tenures because they tend to stay in the firm for most, if not all, of their career. This is true even in cases where individuals clearly possess substantial amount of firm-specific human capital. In contrast, for a high-mobility country such as the United States, high returns to seniority have a clear incentive effect, and firms are induced to pay the premium associated with firm-specific human capital to avoid losing their most productive workers. |
| 主题 | Labour Economics
|
| 关键词 | Participation
Wage
Job mobility
Returns to seniority
Returns to experience
Individual effects
|
| URL | https://cepr.org/publications/dp5480
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
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| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534345
|
推荐引用方式
GB/T 7714 |
Henrik Horn,Joseph Francois. DP5480 Antitrust in Open Economies. 2006.
|
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