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CEP discussion paper
Human Capital, Matching and Job Satisfaction
Tim Barmby, Alex Bryson and Barbara Eberth
June 2012
Paper No' CEPDP1151:
Full Paper (pdf)

JEL Classification: J24; J28

Tags: job satisfaction; job match quality; human capital; job tenure

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.