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Unemployment Benefits and Reservation Wages: Key Elasticities from a Stripped-Down Job Search Approach
JOHN T. ADDISON, MÁRIO CENTENO and PEDRO PORTUGAL
New Series, Vol. 77, No. 305 (January 2010), pp. 46-59
Published by: Wiley on behalf of The London School of Economics and Political Science and The Suntory and Toyota International Centres for Economics and Related Disciplines
Stable URL: http://www.jstor.org/stable/27764395
Page Count: 14
You can always find the topics here!Topics: Unemployment insurance, Unemployment, Wages, Economic elasticity, Job hunting, Political science, Economic benefits, Unitary elasticity, Standard deviation, Statistical models
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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.
Economica © 2010 London School of Economics