Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/20232
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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 hyperbolicdiscounting and endogenous search effort. It estimates quantitatively the degree ofhyperbolic discounting, and assesses its implications for the impact of various policyinterventions aimed at reducing unemployment. The model is estimated using data onunemployment spells and accepted wages from the National Longitudinal Survey of Youth(NLSY). The likelihood function explicitly incorporates all the restrictions implied by theoptimal dynamic programming solution to the model. Both observed and unobservedheterogeneity are accounted for. The results point to a substantial degree of hyperbolicdiscounting, especially for low and medium wage workers. The structural estimates are alsoused to evaluate alternative policy interventions for the unemployed. Estimates based on amodel with exponential discounting may lead to biased inference on the economic impact ofpolicies.en_US
dc.language.isoengen_US
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonn-
dc.relation.ispartofseries|aIZA Discussion paper series |x997en_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-

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