Job Security and the Age Composition of Employment: Evidence from Chile

Name: Work Video:
Duration: 3 min 30 s
Description: This paper develops a simple model to analyze the impact of tenure-based severance payments on firms` hiring and firing decisions. The findings are that under certain conditions, this feature leads to a Last-in First-out firing policy. Also, reforms that increase the slope of the severance-tenure profile tend to increase the probabilities of dismissal of low tenure workers.
Carmen Pagés; Claudio E. Montenegro
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