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| Author: | Blum, Y. Roth, A. E. Rothblum, U. G. |
| Title: | Vacancy Chains and Equilibration in Senior-Level Labor Markets |
| Journal: | Journal of Economic Theory
1997 : OCT, Vol.76:2, p. 362-411 |
| Index terms: | LABOUR MARKETS PROFESSIONAL MANPOWER RETIREMENT |
| Language: | eng |
| Abstract: | In contrast to entry-level professional labor markets, in which cohorts of candidates and positions become available at the same time, senior level positions typically become available when an incumbent retires, or a new position is created, and when a senior position is filled a new vacancy is often created elsewhere. We model senior level labor markets as two-sided matching markets in which matchings are established by retirements and new entries, and can return to stability by a decentralized process of offers and acceptances. This generalizes the standard analysis in a way which has points of contact with the sociological literature on vacancy chains. |
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