Wage aspirations and unemployment persistence

• 成果类型: Article
• 署名作者: Hogan, V
• 署名单位: Trinity College Dublin
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2004.02.002
• 发表日期: 2004
• 页码: 1623-1643
• 关键词: unemployment duration; wages

摘要

We use panel data to examine the empirical determinants of the reservation wage- in particular the influence of previous wages- and consider what this implies for the evolution of the natural rate of unemployment. We find that previous wages have a significant but relatively small effect on reservation wages (an elasticity between 0.15 and 0.47). We also find considerable differences across genders with previous wages being more important for men and market wages being more important for women. Overall our results suggest that the reservation wage will adjust quite quickly to shocks. (C) 2004 Elsevier B.V. All rights reserved.