A Theory of Wage and Promotion Dynamics Inside Firms
构建了一个整合岗位分配、人力资本积累和学习的框架，解释了企业内部工资与晋升的五个典型事实，包括工资下降不罕见但降职罕见、工资增长序列相关、晋升伴随大幅加薪等。
We show that a framework that integrates job assignment, human-capital acquisition, and learning captures several empirical findings concerning wage and promotion dynamics inside firms, including the following. First, real-wage decreases are not rare but demotions are. Second, wage increases are serially correlated. Third, promotions are associated with large wage increases. Fourth, wage increases at promotion are small relative to the difference between average wages across levels of the job ladder. Fifth, workers who receive large wage increases early in their stay at one level of the job ladder are promoted quickly to the next.