Layoffs and duration dependence in a model of turnover |
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Authors: | Kenneth Burdett Nicholas M Kiefer Sunil Sharma |
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Institution: | Cornell University, Ithaca, NY 14853, USA |
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Abstract: | A semi-Markov model of turnover, resulting from optimizing behavior on the part of workers, is developed. Duration dependence in the transition out of employment is modelled as resulting from a layoff probability which decreases with tenure. Some preliminary results, based on DIME data, are presented. These indicate that a declining hazard rate in the transition out of employment is a significant feature of the data. |
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