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Reservation Wages and the Cost of Unemployment

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Author Info
Jones, Stephen R G

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Abstract

This paper studies direct evidence on reservation wages reported in Great Britain in 1982 to assess (1) whether such asking prices are "high" and (2) whether variations in these reservation wages are related to differences in measures of the subjective and objective costs of unemployment. A majority overall (and for various subgroups) reports reservation wages no higher than own past wages adjusted for earnings growth, but there is nonetheless considerable dispersion in the ratio of reservation to past wages. Reservation wages are somewhat related to measures of the differential cost of unemployment, most clearly for men, although the independent role of benefits is often imprecisely measured. However, exactly which of these costs matter differs significantly according to whether the separation from last employment was voluntary or involuntary. Copyright 1989 by The London School of Economics and Political Science.

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Publisher Info
Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 56 (1989)
Issue (Month): 222 (May)
Pages: 225-46
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Handle: RePEc:bla:econom:v:56:y:1989:i:222:p:225-46

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  1. Addison, John T. & Centeno, Mário & Portugal, Pedro, 2004. "Reservation Wages, Search Duration, and Accepted Wages in Europe," IZA Discussion Papers 1252, Institute for the Study of Labor (IZA). [Downloadable!]
  2. Timothy J. Bartik, 1994. "What Should the Federal Government Be Doing About Urban Economic Development?," Staff Working Papers 94-25, W.E. Upjohn Institute for Employment Research. [Downloadable!] (restricted)
  3. David Castro Lugo, 2006. "Curva salarial: una aplicación para el caso de México, 1993-2002," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 21(2), pages 233-273. [Downloadable!]
  4. Felsenstein, Daniel & Fleischer, Aliza, 1999. "Capital Assistance and Small Firm Growth: Implications for Regional Economic Welfare," ERSA conference papers ersa99pa395, European Regional Science Association. [Downloadable!]
  5. Erzo F.P. Luttmer, 2007. "Does the Minimum Wage Cause Inefficient Rationing?," NBER Working Papers 13012, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  6. Timothy J. Bartik, 1993. "Federal Policy Towards State and Local Economic Development in the 1990s," Staff Working Papers 93-17, W.E. Upjohn Institute for Employment Research. [Downloadable!] (restricted)
  7. Sridhar, Kala Seetharam, 2004. "Impact of the enterprise zone," Working Papers 04/19, National Institute of Public Finance and Policy. [Downloadable!]
  8. Madhu Mohanty, 2005. "An alternative method of estimating the worker's reservation wage," International Economic Journal, Korean International Economic Association, vol. 19(4), pages 501-522, December. [Downloadable!] (restricted)
  9. Eswar Prasad, 2003. "What Determines the Reservation Wages of Unemployed Workers? New Evidence from German Micro Data," IMF Working Papers 03/4, International Monetary Fund. [Downloadable!]
    Other versions:
  10. Hannu Piekkola, 2006. "Tax cuts and employment: Evidence from Finnish linked employer-employee data," Discussion Papers 1041, The Research Institute of the Finnish Economy. [Downloadable!]
  11. Stancanelli, E.G.F., 1994. "The unemployed's financial resources and the probality of re-employment," Serie Research Memoranda 0047, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
  12. Donald R. Haurin & Kala S. Sridhar, 2003. "The impact of local unemployment rates on reservation wages and the duration of search for a job," Applied Economics, Taylor and Francis Journals, vol. 35(13), pages 1469-1476, September. [Downloadable!] (restricted)
  13. repec:bep:eapcon:v:7:y:2007:i:1:p:1768-1768 is not listed on IDEAS
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