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Unemployment Benefits and Reservation Wages: Key Elasticities from a Stripped-Down Job Search Approach

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  • JOHN T. ADDISON
  • M�RIO CENTENO
  • PEDRO PORTUGAL

Abstract

This paper exploits survey information on reservation wages and data on actual wages from the European Community Household Panel to deduce, in the manner of Lancaster and Chesher, additional parameters of a stylized structural search model; specifically, reservation wage and transition/duration elasticities. The informational requirements of this approach are minimal, thereby facilitating comparisons between countries. Further, its policy content is immediate in so far as the impact of unemployment benefit rules and measures increasing the arrival rate of job offers are concerned. These key elasticities are computed for the United Kingdom and 11 other European nations. Copyright (c) The London School of Economics and Political Science 2008.

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Bibliographic Info

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

Volume (Year): 77 (2010)
Issue (Month): 305 (01)
Pages: 46-59

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Handle: RePEc:bla:econom:v:77:y:2010:i:305:p:46-59

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References

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  1. Lancaster, Tony & Chesher, Andrew, 1983. "An Econometric Analysis of Reservation Wages," Econometrica, Econometric Society, vol. 51(6), pages 1661-76, November.
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Citations

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Cited by:
  1. Sarah Brown & Karl Taylor, 2008. "Expectations, Reservation Wages And Employment: Evidence From British Panel Data," Working Papers 2008007, The University of Sheffield, Department of Economics, revised May 2008.
  2. John T. Addison & Mário Centeno & Pedro Portugal, 2008. "Do Reservation Wages Really Decline?: Some International Evidence on the Determinants of Reservation Wages," SOEPpapers on Multidisciplinary Panel Data Research 85, DIW Berlin, The German Socio-Economic Panel (SOEP).
  3. repec:wrk:warwec:991 is not listed on IDEAS
  4. Pannenberg, Markus, 2007. "Risk Aversion and Reservation Wages," IZA Discussion Papers 2806, Institute for the Study of Labor (IZA).
  5. Talarowski, David, 2012. "Estimation des élasticités du modèle de recherche d'emploi sur données françaises
    [Estimation of the elasticities of the model of job search on French data]
    ," MPRA Paper 38366, University Library of Munich, Germany.
  6. Antonio Accetturo & Luigi Infante, 2013. "Skills or culture? An analysis of the decision to work by immigrant women in Italy," IZA Journal of Migration, Springer, vol. 2(1), pages 1-21, December.
  7. Tom Krebs & Martin Scheffel, 2013. "Macroeconomic Evaluation of Labor Market Reform in Germany," IMF Economic Review, Palgrave Macmillan, vol. 61(4), pages 664-701, December.
  8. Brown, Sarah & Taylor, Karl, 2013. "Reservation wages, expected wages and unemployment," Economics Letters, Elsevier, vol. 119(3), pages 276-279.
  9. Markus Pannenberg, 2007. "Risk Aversion and Reservation Wages," SOEPpapers on Multidisciplinary Panel Data Research 23, DIW Berlin, The German Socio-Economic Panel (SOEP).
  10. Sarah Brown & Karl Taylor, 2008. "Reservation Wages, Expected Wages and Labour Market Outcomes: Analysis of Individual Level Panel Data," Working Papers 2008008, The University of Sheffield, Department of Economics, revised Jul 2008.
  11. Krebs, Tom & Scheffel, Martin, 2010. "A macroeconomic model for the evaluation of labor market reforms," ZEW Discussion Papers 10-050, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  12. Centeno, Mario & Novo, Alvaro A., 2012. "Do Low-Wage Workers React Less to Longer Unemployment Benefits? Quasi-Experimental Evidence," IZA Discussion Papers 6992, Institute for the Study of Labor (IZA).
  13. Brown, Sarah & Taylor, Karl, 2011. "Reservation wages, market wages and unemployment: Analysis of individual level panel data," Economic Modelling, Elsevier, vol. 28(3), pages 1317-1327, May.

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