Do Earnings Increase with Job Seniority?
指出横截面工资回归高估了资历对收入的影响，因为高工资工人流动性低，导致选择偏差；偏差源于流动性与可转移个人特征负相关，支持通用个人差异理论而非企业特定属性理论。
Cross-sectional wage regressions overstate the extent to which earnings increase with job seniority because they fail to take account of the sorting which occurs when high wage workers have lower rates of mobility. The main source of bias is a negative correlation between turnover probabilities and (unobserved) market valued individual characteristics which are transferable across firms. These results argue for the importance of theories which emphasize generally applicable individual differences and against those which focus on firm-specific attributes.