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Rehiring, Seniority, and Labor Force Adjustment

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  • Santiago, Carlos E

Abstract

This paper examines the role of seniority in two interrelated phenomena-rising age-earnings profiles and the use of layoffs rather than wage adjustments during economic decline. The results sug gest that rehiring based on a seniority-first criterion is not incons istent with an approach that maximizes worker productivity within a h eterogeneous labor force. Moreover, assessment of worker reliability based on the upward portion of the wage-productivity cum seniority lo cus is appropriate since it reduces subsequent turnover. Thus, an app roach that combines human capital accumulation with Lazear-type defer red payments schemes explains much of long-term worker-firm attachmen t. Copyright 1987 by University of Chicago Press.

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  • Santiago, Carlos E, 1987. "Rehiring, Seniority, and Labor Force Adjustment," Journal of Labor Economics, University of Chicago Press, vol. 5(4), pages 18-35, October.
    • Handle: RePEc:ucp:jlabec:v:5:y:1987:i:4:p:s18-35
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    Cited by:

    1. Idson, Todd L & Valletta, Robert G, 1996. "Seniority, Sectoral Decline, and Employee Retention: An Analysis of Layoff Unemployment Spells," Journal of Labor Economics, University of Chicago Press, vol. 14(4), pages 654-676, October.

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