| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP9375
|
| DP9375 Worker Matching and Firm Value |
| Eran Yashiv; Espen R. Moen
|
| 发表日期 | 2013-03-03
|
| 出版年 | 2013
|
| 语种 | 英语
|
| 摘要 | This paper studies the hiring and firing decisions of firms and their effects on firm value. This is done in an environment where the productivity of workers depends on how well they match with their co-workers and the firm acts as a coordinating device. Match quality derives from a production technology whereby workers are randomly located on the Salop circle, and depends negatively on the distance between the workers. It is shown that a worker's contribution in a given firm changes over time in a nontrivial way as co-workers are replaced with new workers. The paper derives optimal hiring and replacement policies, including an optimal stopping rule, and characterizes the resulting equilibrium in terms of employment, firm output and the distribution of firm values. The paper stresses the role of horizontal differences in worker productivity, as opposed to vertical, assortative matching issues. Simulations of the model reveal a rich pattern of worker turnover dynamics and their connections to the resulting firm value and age distributions. |
| 主题 | Labour Economics
|
| 关键词 | Firm value
Complementarity
Worker value
Salop circle
Hiring
Firing
Match quality
Optimal stopping
|
| URL | https://cepr.org/publications/dp9375
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538210
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推荐引用方式
GB/T 7714 |
Eran Yashiv,Espen R. Moen. DP9375 Worker Matching and Firm Value. 2013.
|
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