Abstract
This paper develops an equilibrium search model that allows firms to invest in specific-capital. I show that firms that pay higher wages invest more in specific-capital because high-paid workers quit at a lower rate. Also, wage offer density has a thin right tail. Published by Elsevier Science B.V.
| Original language | English |
|---|---|
| Pages (from-to) | 203-209 |
| Number of pages | 7 |
| Journal | Economics Letters |
| Volume | 74 |
| Issue number | 2 |
| DOIs | |
| State | Published - Jan 2002 |
Keywords
- Search friction
- Wage offer density
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