Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/129502
Authors: 
Haywood, Luke
Year of Publication: 
Jan-2016
Citation: 
[Journal:] Labour Economics [ISSN:] 0927-5371 [Volume:] 38 [Pages:] 1-11
Abstract: 
Preferences over jobs depend on wages and non-wage aspects. Variation in wealth may change the importance of income as a motivation for working. Higher wealth levels may make good non-wage characteristics relatively more important. This hypothesis is tested empirically using a reduced form search model in which differential job leaving rates identify willingness to pay for non-wage aspects of jobs. Marginal willingness to pay for non-wage aspects (measured by “job satisfaction for work in itself”) is found to increase significantly after large windfall wealth gains in British panel data. Thus, wealth influences more than just the hours worked.
Subjects: 
labor supply
wealth
job satisfaction
duration models
JEL: 
J21
J28
J32
J64
Persistent Identifier of the first edition: 
Additional Information: 
This is the preprint of an article published in Labour Economics 38 (2016), pp. 1-11, available online at: http://dx.doi.org/10.1016/j.labeco.2015.10.002
Document Type: 
Article

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