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✦   LIBER   ✦

Behavior of the firm in a market for heterogeneous labor

✍ Scribed by Susan B. Vroman

Publisher
Elsevier Science
Year
1987
Tongue
English
Weight
778 KB
Volume
11
Category
Article
ISSN
0165-1889

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✦ Synopsis

This paper develops a dynamic model of the firm in a labor market where workers and jobs are heterogeneous with respect to skill. The firm's recruitment policy, in a heterogeneous market, consists of both a wage offer and a skill requirement. The explicit derivation of this policy serves to clarify the difference between the long-run and short-run relationship Lctween wages and skills. The short-run shift in this relationship helps to explain the occupational upgrading that occurs in cyclical upswings. The model also highlights the impact of the skill level dL.~ribution on the rate of change of firms' wage offers.

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