Wage dynamics and promotions inside and between firms
利用葡萄牙雇主-雇员匹配数据，研究了工资增长与晋升、工作变动之间的动态关系，发现晋升和跳槽都能带来显著的工资回报，且结果不支持完全信息对称模型，提示存在信息不对称或工人寻找良好匹配的可能性。
We focus on the dynamic relation between wage increases, promotions and job changes. In the empirical analyses, we use the Portuguese-matched employer–employee data Quadros de Pessoal. We find substantial wage returns to both promotions and job-to-job transitions. Our results are not consistent with models of full information and symmetric learning in a competitive and frictionless market. This might suggest that there is asymmetric information. An alternative explanation is that workers might search for a good match. Finally, we show that employer-reported promotions differ to a large extent from changes in hierarchical levels.