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A set of facts on job change
Match quality as specific capital
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Abraham and Farber accumulated altemative analysis beneﬁt supplements coefﬁcient on tenure completed job duration current employer Current Population Survey data on job declines with tenure deﬁned eamings function early in jobs facts ﬁnd ﬁnding ﬁrm-speciﬁc ﬁrms ﬁrst ﬁxed fraction of workers hazard function heterogeneity model human capital model implies incidence of long-term increase job change declines job losers job loss rates job stability job tenure jobs end early Labor Economics labor market experience layoff long-term employment relationships lost job mobility rates mobility supplements NLSY OLS estimates Orley Ashenfelter pension and beneﬁt period plant closing pre-displacement tenure present evidence probability of job productivity PSlD rates of job reﬂect relationship between tenure relationships are common relatively retention rates retum to tenure Richard Layard separation rates specific speciﬁc capital model speciﬁc human capital stylized facts substantial sufﬁcient Technology shocks Topel United wage growth wage offer worker mobility workforce