The model generates results that shed light on a number of empirical facts, such as wage cuts in job-to-job transition, wage growth over tenure, true duration dependence of unemployment, and frictional wage inequality. tives contracts, but the principal-agent incentives contract mechanism design under the dynamic learning mechanism still lack of in-depth study. To study equilibrium interactions between learning and search, this paper integrates learning into a search equilibrium with on-the-job search and wage-tenure contracts.
#Learning on the job optimal contract plus#
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We strive to provide the optimal patient experience and healthy work environment for all team members. Firms respond to updated beliefs by altering vacancy creation and optimal wage contracts. 22 The investment in workforce training by firms depends on the type of employment contract. CLC of Harriman LLC is now hiring a Contract Registered Nurse in Harriman, TN 37748. Search outcomes yield information for updating the belief about the ability which affects optimal search decisions in the future. When workers have incomplete information about their ability, they can learn about this ability by searching for jobs, both while employed and unemployed.
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