This paper attempts to provide an economic rationale for the existence and pattern of redundancy payments. A model of firm-specific training with uncertain returns to training and uncertainty about the outside options of workers is constructed for this purpose. The central result is that an...

We consider differences in current job tenure of individuals using linked employee and workplace data. This enables us to distinguish between variation in tenure associated with the characteristics of individual employees and those of the workplace in which they work. As a group, The various...