| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19870 |
| 来源ID | Working Paper 19870 |
| A Contribution to the Empirics of Reservation Wages | |
| Alan B. Krueger; Andreas I. Mueller | |
| 发表日期 | 2014-01-30 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper provides evidence on the behavior of reservation wages over the spell of unemployment using high‐frequency longitudinal data. Using data from our survey of unemployed workers in New Jersey, where workers were interviewed each week for up to 24 weeks, we find that self‐reported reservation wages decline at a modest rate over the spell of unemployment, with point estimates ranging from 0.05 to 0.14 percent per week of unemployment. The decline in reservation wages is driven primarily by older individuals and those with personal savings at the start of the survey. The longitudinal nature of the data also allows us to test the relationship between job acceptance and the reservation wage and offered wage, where the reservation wage is measured from a previous interview to avoid bias due to cognitive dissonance. Job offers are more likely to be accepted if the offered wage exceeds the reservation wage, and the reservation wage has more predictive power in this regard than the pre-displacement wage, suggesting the reservation wage contains useful information about workers' future decisions. In addition, there is a discrete rise in job acceptance when the offered wage exceeds the reservation wage. In comparison to a calibrated job search model, the reservation wage starts out too high and declines too slowly, on average, suggesting that many workers persistently misjudge their prospects or anchor their reservation wage on their previous wage. |
| 主题 | Macroeconomics ; Public Economics |
| URL | https://www.nber.org/papers/w19870 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577544 |
| 推荐引用方式 GB/T 7714 | Alan B. Krueger,Andreas I. Mueller. A Contribution to the Empirics of Reservation Wages. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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