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dc.contributor.authorPaserman, Marco Danieleen_US
dc.date.accessioned2009-01-28T16:12:36Z-
dc.date.available2009-01-28T16:12:36Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/20232-
dc.description.abstractThis paper estimates the structural parameters of a job search model with hyperbolic discounting and endogenous search effort. It estimates quantitatively the degree of hyperbolic discounting, and assesses its implications for the impact of various policy interventions aimed at reducing unemployment. The model is estimated using data on unemployment spells and accepted wages from the National Longitudinal Survey of Youth (NLSY). The likelihood function explicitly incorporates all the restrictions implied by the optimal dynamic programming solution to the model. Both observed and unobserved heterogeneity are accounted for. The results point to a substantial degree of hyperbolic discounting, especially for low and medium wage workers. The structural estimates are also used to evaluate alternative policy interventions for the unemployed. Estimates based on a model with exponential discounting may lead to biased inference on the economic impact of policies.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesIZA Discussion paper series 997en_US
dc.subject.jelC41en_US
dc.subject.jelC11en_US
dc.subject.ddc330en_US
dc.subject.keywordjob searchen_US
dc.subject.keywordhyperbolic discountingen_US
dc.subject.keywordstructural estimationen_US
dc.subject.keywordpolicy evaluationen_US
dc.subject.stwArbeitsucheen_US
dc.subject.stwArbeitsplatzsuchmodellen_US
dc.subject.stwArbeitsmarktpolitiken_US
dc.subject.stwWirtschaftspolitische Wirkungsanalyseen_US
dc.subject.stwTheorieen_US
dc.subject.stwVereinigte Staatenen_US
dc.titleJob search and hyperbolic discounting : structural estimation and policy evaluationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn378234811en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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