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Job matching, learning and the distribution of surplus

By Leonardo Felli and Christopher Harris


We study wage determination in a job-matching model, under the assumption that wages may be continuously renegotiated, so as to reflect the employee's endogenous outside option. We characterize the unique equilibirum of the model and we analyse the distribution of producer surplus. The model is used to provide a theoretical analysis of the ongoing debate concerning the observed returns to specific (informational) human capital

Topics: HG Finance, HD Industries. Land use. Labor
Publisher: Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science
Year: 1994
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Provided by: LSE Research Online
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