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|Explaining the Evolution of Pension Structure and Job Tenure|
National Bureau of Economic Research [NBER]
Aug. 31, 2004
Excerpt: Current and expected job tenure have fallen significantly over the last two decades. Over the same period, traditional defined benefit pensions, designed to reward long tenure, have become steadily less common. This paper uses a contract-theoretic matching model with moral hazard to explain changes in pension structure and job tenure.
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