The Dynamics of Reservation Wages: Preliminary Evidence from the GSOEP
This paper presents preliminary results from an empirical analysis of the individual and macroeconomic deter-minants of reservation wages, using data from the German Socio-Economic Panel. The longitudinal aspect of the dataset provides an interesting perspective on the dynamics of reservation wages and their correlations with accepted wage offers for workers who make the transition from unemployment to employment. The findings have important policy implications as well, since they shed some light on the disincentive effects of the German tax and transfer system for the labor supply and employment decisions of unemployed workers at different points of the skill/offer wage distribution.
Volume (Year): 70 (2001)
Issue (Month): 1 ()
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- KIEFER, Nicholas M. & NEUMANN, George R., "undated".
"An empirical job-search model, with a test of the constant reservation-wage hypothesis,"
CORE Discussion Papers RP
358, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- Heckman, James J, 1979.
"Sample Selection Bias as a Specification Error,"
Econometric Society, vol. 47(1), pages 153-161, January.
- Richard B. Freeman & Ronald Schettkat, 2000. "The Role of Wage and Skill Differences in US-German Employment Differences," NBER Working Papers 7474, National Bureau of Economic Research, Inc.
- Blau, David M, 1991. "Search for Nonwage Job Characteristics: A Test of the Reservation Wage Hypothesis," Journal of Labor Economics, University of Chicago Press, vol. 9(2), pages 186-205, April.
- Gorter, Dirk & Gorter, Cees, 1993. "The Relation between Unemployment Benefits, the Reservation Wage and Search Duration," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 55(2), pages 199-214, May.
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