Job Ladders and Earnings of Displaced Workers
通过构建包含职业阶梯和新员工高离职率的搜索模型，解释了失业工人为何经历巨大且持久的收入损失，并匹配了多项实证数据。
Workers who suffer job displacement experience surprisingly large and persistent earnings losses. This paper proposes an explanation for this robust empirical puzzle in a model of search with a significant job ladder and increased separation rates for the recently hired. In addition to capturing the depth and persistence of displaced worker earnings losses, the model matches: employment-to-nonemployment and employer-to-employer probabilities by tenure; the empirical decomposition of earnings losses into reduced wages and employment; observed wage dispersion; and the distribution of wage changes around a nonemployment event.