Reservation Wages and the Cost of Unemployment
Bibliographic Data
| ID | 9723946 |
|---|---|
| Authors | Stephen R G Jones, Stephen R Jones (0000-0003-0491-4881, corresponding author) |
| Year | 1989 |
| Volume | 56 |
| Issue | 222 |
| Pages | 225 |
| Publication date | 1989-05-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2554041 |
| OpenAlex | W2023108498 |
| Language | EN |
| Citations received | 5 |
| References cited | 16 |
This paper studies direct evidence on reservation wages reported in Great Britain in 1982 to assess (1) whether such asking prices are "high" and (2) whether variations in these reservation wages are related to differences in measures of the subjective and objective costs of unemployment. A majority overall (and for various subgroups) reports reservation wages no higher than own past wages adjusted for earnings growth, but there is nonetheless considerable dispersion in the ratio of reservation to past wages. Reservation wages are somewhat related to measures of the differential cost of unemployment, most clearly for men, although the independent role of benefits is often imprecisely measured. However, exactly which of these costs matter differs significantly according to whether the separation from last employment was voluntary or involuntary. Copyright 1989 by The London School of Economics and Political Science
Demographic economics · Differential (mechanical device) · Earnings · Economics · Efficiency wage · Labour economics · Macroeconomics · Reservation · Reservation wage · Unemployment · Wage · Finance · Housing Market and Economics · Housing, Finance, and Neoliberalism · Labor market dynamics and wage inequality
A Simple Test for Heteroscedasticity and Random Coefficient Variation
A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity
Specification Tests in Econometrics
The Economics of Youth Job Search Behavior
The Asking Price of Labor and the Duration of Unemployment
Unemployment Insurance and the Reservation Wage of the Unemployed
A study of the psychological effects of redundancy and unemployment
Men without jobs
An investigation of youths' attributions for unemployment and their political attitudes
Job loss and mood
An Empirical Job-Search Model, with a Test of the Constant Reservation-Wage Hypothesis
Unemployment
Unemployment Benefits Revisited
The Determinants of Equilibrium Unemployment in Britain
Response to Nickell
A study of psychological well-being
| Unique citing works | 5 |
|---|---|
| Citations per year | 0,15 |
| Citation span | 1992 - 2023 (32) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |