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| Author: | Demougin, D. Siow, A. |
| Title: | Careers in ongoing hierarchies |
| Journal: | American Economic Review
1994 : DEC, VOL. 84:5, p. 1261-1277 |
| Index terms: | ECONOMICS CAREERS HIERARCHICAL ORGANIZATIONS |
| Language: | eng |
| Abstract: | The probability that an unskilled worker can be successfully trained or screened to be a manager depends on the effort of the firm. With positive hiring costs, a firm prefers to train/screen its own managers. However, the optimal size of the firm for productive efficiency may conflict with efficient managerial husbandry. How a firm copes with the above constraint generates stochastic layoffs, lateral mobility, promotions, diverse earnings profiles, fast-track jobs, and up-or-out rules. |
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