Searching for Better Prospects : Endogenizing Falling Job Tenure and Private Pension Coverage

Recent declines in job tenure have coincided with a shift away from traditional defined benefit (DB) pensions, which reward long tenure. Recent evidence also points to an increase in job-to-job movements by workers, and we document gains in relative wages of job-to-job movers over a similar period. We develop a search model in which firms may offer tenure-based contracts like DB pensions to reduce the incidence of costly on-the-job search by workers. Reduced search costs can, under fairly general conditions, lower the value of deterring search and the use of DB pensions

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Year of publication:	[2022]
Authors:	Friedberg, Leora ; Owyang, Michael T. ; Sinclair, Tara M.
Publisher:	[S.l.] : SSRN
Subject:	Betriebszugehörigkeit \| Job tenure \| Suchtheorie \| Search theory \| Matching \| Arbeitsuche \| Job search \| Altersvorsorge \| Retirement provision \| Betriebliche Sozialleistungen \| Employee benefits