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CEP discussion paper

Human Capital, Matching and Job Satisfaction


Using a model of wage determination developed by Stevens (2003) we offer an explanation of why tenure has a negative effect when entered in job satisfaction equations. If job satisfaction measures match quality, then the explanation follows from a model of the labour market in which workers accumulate specific human capital at the firm they work and the way in which this accumulation affects the way workers react to outside job opportunities.


Tim Barmby, Alex Bryson and Barbara Eberth

22 June 2012     Paper Number CEPDP1151

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This CEP discussion paper is published under the centre's Labour markets programme.