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Title: Job Search and Asset Accumulation Under Borrowing Constraints
Resulting in 1 citation.
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Rendon, Silvio Roberto |
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Job Search and Asset Accumulation Under Borrowing Constraints International Economic Review 47,1 (February 2006): 233-263. Also: http://onlinelibrary.wiley.com/doi/10.1111/j.1468-2354.2006.00378.x/abstract Cohort(s): NLSY79 Publisher: U.S. International Trade Commission Keyword(s): Assets; Job Search; Quits; Wealth 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. [ABSTRACT FROM AUTHOR] |
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Bibliography Citation
Rendon, Silvio Roberto. "Job Search and Asset Accumulation Under Borrowing Constraints." International Economic Review 47,1 (February 2006): 233-263.
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