Article1997

AGING, JOB MOBILITY, AND COMPENSATION

61 citations0/0 files storedOxford Economic Papers

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Labor market dynamics and wage inequality Financial Literacy, Pension, Retirement Analysis Retirement, Disability, and Employment

Abstract

Age and tenure are negatively correlated with job mobility. Mobility patterns therefore change over the lifetime. In this paper we analyze job mobility patterns and the way they change with age and tenure. A novelty is that the effects of financial incentives (wage differentials), mobility costs, and non-financial incentives (the shadow price for physically arduous labour) are disentangled. It is shown how these elements change with age. The results confirm our hypotheses. The rapid decline in mobility with age is simultaneously caused by declining financial gains, rising costs, and a higher shadow price for older workers.

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References

1979Job Matching and the Theory of Turnover 1979Why Is There Mandatory Retirement?1986Chapter 12 The theory of equalizing differences 1962On-the-Job Training: Costs, Returns, and Some Implications 1988Job Mobility and the Careers of Young Men 1991Specific Capital, Mobility, and Wages: Wages Rise with Job Seniority 1985Do Wages Rise With Job Seniority?1984Job Preferences, College Major, and the Gender Gap in Earnings

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