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An Econometric Analysis of Individual Unemployment Duration in West Germany: Studies in Contemporary Economics

Autor Eckhard Wurzel
en Limba Engleză Paperback – 29 apr 1993
In contemporary labor economics increasing attention is paidto the fact that unemployment is not only a stock but also aflow phenomenon. The present micro-econometric studyanalyses the impact of important socio-economiccharacteristics on unemployment duration in West Germany.Based on a search theoretic framework unemployment durationis considered as a stochastic process whose evolution isinfluenced by economicand demographic variables likeunemployment benefits, expected wage offers, training andage. This is modeled by application of the concept of thehazard rate which denotes the conditional exit rate fromunemployment over time given elapsed unemployment duration.Contrasting more traditional models a semi-parametricapproachis chosen which reduces the danger ofmis-specification of the stochastic duration process. Thisprocedure also is particularly suitable for the analysis ofgrouped observations on unemployment duration typicallygenerated by longitudinal data sets as the German"Socio-Economic Panel" which is utilized for this study.Besides deriving a set of empirical results on unemploymentduration in West Germanymethodological issues of durationanalysis are considered with particular attention paid tothe impact of the sample design. Also, important outcomesfrom search theory and findings from other hazard rateanalysesare surveyed.
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Specificații

ISBN-13: 9783790806816
ISBN-10: 3790806811
Pagini: 256
Ilustrații: X, 245 p.
Dimensiuni: 140 x 216 x 13 mm
Greutate: 0.3 kg
Ediția:1993
Editura: Physica-Verlag HD
Colecția Physica
Seria Studies in Contemporary Economics

Locul publicării:Heidelberg, Germany

Public țintă

Research

Cuprins

I. Introduction.- II. Models of Individual Unemployment Duration.- II.1 Models of Labor—Leisure Choice.- II.2 Job Search Theory.- III. Hazard Rate Models.- III.1 Single Risk Models.- III.2 Competing Risks Models.- III.3 Parameterization of the Regression Model.- III.4 Unobserved Heterogeneity.- III.5 Survey of Empirical Findings from Hazard Rate Models.- IV. Alternative Approaches for the Analysis of Duration Data.- IV. 1 Time—Series Regression Analysis with Aggregate Data.- IV.2 Structural Job Search Models.- IV.3 Calculation of Individual Reservation Wage Elasticities.- V. Sample Designs and Semi—Parametric Specification.- V.1 Sample Designs for Unemployment Duration.- V.2 Semi—Parametric Specification of Hazard Rate Models.- VI. The Variables.- VI.1 Unemployment Duration.- VI.2 Economic and Demographic Characteristics.- VI.3 Unemployment Benefits and Expected Earnings.- VII. Results of the Hazard Rate Analysis.- VIII. Summary of Main Results and Outlook on Aggregate Unemployment.- Appendix: Sample Means and Standard Errors.- References.