Job search and asset accumulation under borrowing constraints

被引：35

作者：

Rendon, S ^{[1
]}

机构：

[1] ITAM, Ctr Invest Econ, Mexico City 10700, DF, Mexico

来源：

INTERNATIONAL ECONOMIC REVIEW | 2006年 / 47卷 / 01期

关键词：

D O I：

10.1111/j.1468-2354.2006.00378.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article examines the relationship between wealth accumulation and job search dynamics. It proposes a model in which risk-averse individuals search for jobs, save, and borrow to smooth their consumption. One motivation for accumulating wealth is to finance voluntary quits in order to search for better jobs. Using data on men from the National Longitudinal Survey (1979 cohort), I estimate the individual's dynamic decision problem. The results show that borrowing constraints are tight and reinforce the influence of wealth on job acceptance decisions, namely that more initial wealth and access to larger amounts of credit increase wages and unemployment duration.

引用

页码：233 / 263

页数：31

共 57 条

[1] Efficient unemployment insurance [J].