Labor market dynamics in a highly competitive industry
研究高竞争行业中工人年龄、工资与生产率的关系，发现倒U型关系，且工作流动对工资轨迹有重要影响，高生产率工人流向高生产率企业。
We study labor market dynamics of workers in a highly competitive industry with a highly competitive labor market. We focus on the relationship between workers’ age, wages, and productivity. Our analysis uncovers an inverse U-shaped relationship. While some wage adjustments occur within the current firm, job mobility plays a crucial role in shaping wage trajectories. There is assortative matching with highly productive workers moving to highly productive firms, while less productive workers gravitate towards less productive firms. Our findings suggest that both in-firm wage progression and wage growth via job mobility contribute to a close alignment between wages and productivity throughout workers’ careers.