Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/20232 
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dc.contributor.authorPaserman, Marco Danieleen
dc.date.accessioned2009-01-28T16:12:36Z-
dc.date.available2009-01-28T16:12:36Z-
dc.date.issued2004-
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x997en
dc.subject.jelC41en
dc.subject.jelC11en
dc.subject.ddc330en
dc.subject.keywordjob searchen
dc.subject.keywordhyperbolic discountingen
dc.subject.keywordstructural estimationen
dc.subject.keywordpolicy evaluationen
dc.subject.stwArbeitsucheen
dc.subject.stwArbeitsplatzsuchmodellen
dc.subject.stwArbeitsmarktpolitiken
dc.subject.stwWirtschaftspolitische Wirkungsanalyseen
dc.subject.stwTheorieen
dc.subject.stwVereinigte Staatenen
dc.titleJob search and hyperbolic discounting : structural estimation and policy evaluation-
dc.typeWorking Paperen
dc.identifier.ppn378234811en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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