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| Tekijä: | Paserman, M.D. |
| Otsikko: | Job search and hyperbolic discounting: structural estimation and policy evaluation |
| Lehti: | Economic Journal
2008 : AUG, VOL. 118:531, p. 1418-1452 |
| Asiasana: | job search pay wage determination |
| Vapaa asiasana: | hyperbolic discounting |
| Kieli: | eng |
| Tiivistelmä: | The degree of hyperbolic discounting in a job search model is estimated quantitatively by using data on unemployment spells and accepted wages from the NLSY. The findings show a substantial degree of hyperbolic discounting for low and medium wage workers. Then, the structural estimates are used to evaluate alternative policy interventions aimed at reducing unemployment. The estimated effects of a given policy can vary by up to 40%, depending on the assumed type of time discounting. |
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