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Searching for Better Prospects: Endogenizing Falling Job Tenure and Private Pension Coverage / Leora Friedberg, Michael T. Owyang, Tara M. Sinclair.
- Format:
- Book
- Author/Creator:
- Friedberg, Leora.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w11808.
- NBER working paper series no. w11808
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Searching for Better Prospects
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2005.
- Summary:
- 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.
- Notes:
- Print version record
- December 2005.
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