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| Author: | Drazen, A. Gottfries, N. |
| Title: | Seniority rules and the persistence of unemployment. |
| Journal: | Oxford Economic Papers
1994 : APR, VOL. 46:2, p. 228-244 |
| Index terms: | EMPLOYMENT LAY-OFFS WORKERS |
| Language: | eng |
| Abstract: | A stochastic infinite-horizon insider-outsider model is formulated that is solved explicitly and used to investigate the consequences of alternative "seniority" rules for wage and employment determination. Persistence arises when employment affects the layoff and hiring priority of workers and their relative influence on union decisions. Persistence can arise both when layoffs are random and when there is a strict layoff order. Expected employment depends not only on employment in the previous period but on a longer history of shocks. |
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