A Theory of Wage Dispersion and Job Market Segmentation
Quarterly Journal of Economics
1989
Job market segmentation refers to the idea that there tends to be a correlation among high wages, high productivity, high capital intensity, high value added, few quits relative to layoffs, and low labor turnover. This paper develops a model of wage dispersion and job market segmentation based on the very sparse assumption that the only departure from a strictly orthodox neoclassical world consists of wages being sticky in the short run. Implications of the model are explored and discussed.
- DOI
- 10.2307/2937837
- Volume
- 104 (1)
- Pages
- 121
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