期刊名称：Quantitative and Qualitative Analysis in Social Sciences
印刷版ISSN：1752-8925
出版年度：2007
卷号：1
期号：3
页码：81-104
出版社：Quantitative and Qualitative Analysis in Social Sciences
摘要：We analyse the impact of labour turnover on profits. We extend the e.ciency wage model of Salop (1979)by separating incumbent and newly hired workers in the production function. We show that an exogenousincrease in the turnover rate can increase profits, but only where firms do not cho ose the wage. Thise.ect of turnover varies across firms as it depends on turnover costs, the substitutability of incumbentsand new hires and other factors. We test our model on UK cross-sectional establishment-level data. Wefind that our predictions are consistent with the data
