Musings on Worker Stickiness, Full Employment, and Productivity Growth
Comment of the Day: Robert Waldmann: Musings on Worker Stickiness, Full Employment, and Productivity Growth: "Causation? Low technological progress would reduce the number of really good better than the old job openings...
...To tell, one has to look at how much workers gain in wages working conditions and interesting occupations when they switch. One can't, but one can look at wages and assume they are correlated with the whole package. I think your theory implies that the workers who do switch have, on average, larger wage gains than the workers who switched back in the good old days.
If it is increased fear of low tenure job insecurity then the rate of employment to employment transitions is reduced and the wage gain per transition is increased. If it is a low rate of creation of good new jobs, then the rate of transitions is decreased and the wage gain per transition is the same. This is testable.
