Job search and impatience

• 成果类型: Article
• 署名作者: DellaVigna, S; Paserman, MD
• 署名单位: University of California System; University of California Berkeley; National Bureau of Economic Research; Hebrew University of Jerusalem
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/430286
• 发表日期: 2005
• 页码: 527-588
• 关键词: unemployment-insurance; duration; consumption; TRANSITION; models

摘要

Workers who are more impatient search less intensively and set lower reservation wages. The effect of impatience on exit rates from unemployment is therefore unclear. If agents have exponential time preferences, the reservation wage effect dominates for sufficiently patient individuals, so increases in impatience lead to higher exit rates. The opposite is true for agents with hyperbolic time preferences. Using two large longitudinal data sets, we find that impatience measures are negatively correlated with search effort and the unemployment exit rate and are orthogonal to reservation wages. Impatience substantially affects outcomes in the direction predicted by the hyperbolic model.