The Duration of Youth Unemployment in West Germany: Some Theoretical Considerations
This paper presents a theoretical model dealing with the duration of youth unemployment in West Germany. Duration can be expressed in terms of the underlying hazard function. After a brief discussion of a reasonable shape of the hazard function a distinction is made with respect to the probabilities of receiving a job offer and accepting it. Determinants of the latter decision are developed using a unified model of consumption, leisure, and job search. Uncertainty and some restrictions such as standard work time and entitlement to unemployment compensation are taken into account. The probability of receiving a job offer depends, among other factors, on the screening process undertaken by the firms .
|Date of creation:||Oct 1979|
|Date of revision:|
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- Seater, John J., 1977. "A unified model of consumption, labor supply, and job search," Journal of Economic Theory, Elsevier, vol. 14(2), pages 349-372, April.
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- Richard B. Freeman, 1979. "Why is There A Youth Labor Market Problem?," NBER Working Papers 0365, National Bureau of Economic Research, Inc.
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- Seater, John J, 1979. "Job Search and Vacancy Contacts," American Economic Review, American Economic Association, vol. 69(3), pages 411-19, June.
- Herbert Grubel & Dennis Maki, 1976. "The effects of unemployment benefits on U. S. Unemployment rates," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 112(2), pages 274-299, June.
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