Bauer, Anja; Lochner, Benjamin - 2017 - Draft: October 2017
) and an on-the-job search model (Hagedorn and Manovskii, 2013) for the wage formation of different worker types over the …), we find that previous evidence for the excess wage cyclicality of job changers can be entirely explained by cyclical …-employee matches, we also find no excess wage cyclicality for new hires from unemployment - the key worker type's wage for …