Job search and asset accumulation under borrowing constraints

Publication:
Job search and asset accumulation under borrowing constraints

dc.affiliation.dpto	UC3M. Departamento de Economía	es
dc.contributor.author	Rendón, Silvio
dc.date.accessioned	2006-11-09T11:16:50Z
dc.date.available	2006-11-09T11:16:50Z
dc.date.issued	2002-10
dc.description.abstract	In this paper I show how borrowing constraints and job search interact. I fit a dynamic model to data from the National Longitudinal Survey (1979-cohort) and show that borrowing constraints are significant. Agents with more initial assets and more access to credit attain higher wages for several periods after high school graduation. The unemployed maintain their consumption by running down their assets, while the employed save to buffer against future unemployment spells. I also show that, unlike in models with exogenous income streams, unemployment transfers, by allowing agents to attain higher wages do not 'crowd out' but increase saving.
dc.format.extent	2222860 bytes
dc.format.mimetype	application/pdf
dc.identifier.issn	2340-5031
dc.identifier.repec	we025219
dc.identifier.uri	https://hdl.handle.net/10016/279
dc.language.iso	eng
dc.language.iso	eng
dc.relation.ispartofseries	UC3M Working Paper. Economics
dc.relation.ispartofseries	2002-19
dc.rights	Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.accessRights	open access
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.eciencia	Economía
dc.title	Job search and asset accumulation under borrowing constraints
dc.type	working paper	*
dspace.entity.type	Publication