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Author like: Andrisani, Paul J
Resulting in 1 citation.
1. Akerlof, George A.
Rose, Andrew K.
Yellen, Janet L.
Waiting for Work
NBER Working Paper No. 3385 (June 1990). Also Working Paper, University of California - Berkeley, April 2002.
Also: http://faculty.haas.berkeley.edu/arose/waitwork.pdf
Cohort(s): NLSY79
Publisher: Author
Keyword(s): Business Cycles; Mobility; Mobility, Job; Skilled Workers; Unemployment

Permission to reprint the abstract has not been received from the publisher.

This paper was prepared for Imperfect Economics: Essays in Honor of Joseph Stiglitz. It is adapted from our earlier unpublished paper with the same title, NBER Working Paper No. 3385, May 1990.

This paper explains upward job mobility and observed patterns of unemployment by skill as an economy recovers from a recession. Skilled unemployment is due to rational waiting by workers looking for long-term jobs when there is a 'lock-in' effect. Lock-in occurs if the conditions in the labor market when a worker first accepts a job have a persistent effect on wages. Using data from the NLSY, the authors provide empirical evidence of the cyclical pattern of wages predicted by the theory and also of lock-in.

Bibliography Citation
Akerlof, George A., Andrew K. Rose and Janet L. Yellen. "Waiting for Work." NBER Working Paper No. 3385 (June 1990). Also Working Paper, University of California - Berkeley, April 2002.