Philly Fed paper explains low US job separation rates
Experienced workers' reluctance to leave their jobs has contributed to the decline in job separation rates and increased the pool of low-quality job matches in the US, according to a Philadelphia Federal Reserve paper published on Friday.
Shigeru Fujita, the paper's author, uses a labour-matching model with two types of workers – experienced and inexperienced – to explain the secular decline in the aggregate job separation rate over the past three decades. While existing studies link the decline
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