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Employment Relations and Wages: What Can We Learn from Subjective Assessments?

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  • Marta Lachowska

    ()
    (W.E. Upjohn Institute for Employment Research)

Abstract

This paper studies the link between hourly wages and workers’ subjective assessments of how easy it would be to find another job as good as the present one, and how easy it would be for an employer to replace an employee. First, using high-quality data, I study the correlates of these two assessments. Second, I study whether respondents who report better outside opportunities and respondents who think they are difficult to replace receive higher wages. The results appear to be consistent with predictions of at least three theoretical frameworks: human capital theory, search theory, and a “locus of control” model.

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Bibliographic Info

Paper provided by W.E. Upjohn Institute for Employment Research in its series Upjohn Working Papers and Journal Articles with number 13-196.

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Date of creation: May 2013
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Handle: RePEc:upj:weupjo:13-196

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Keywords: Wages; Employment Relations; Outside Options; Human Capital; Locus of Control; Labor Market Frictions;

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