The Relationship Between Unemployment Spells and Reservation Wages as a Test of Search Theory
利用1982年英国横截面数据，检验了固定工作搜索理论中失业持续期与保留工资正相关的预测，发现保留工资对持续期有显著影响。
The theory of stationary job search predicts that, controlling for other factors that affect the probability of leaving unemployment, duration and reservation wages are likely to be positively associated. The paper tests this prediction for British cross-sectional data from 1982 using an estimating equation implied by search theory. Simultaneity is crucial in the evaluation of this prediction, with single-equation and instrumental-variable estimates differing markedly. Perhaps surprisingly, given the extreme paucity of both job interviews and offers in the sample, the main finding is that reservation wages play a significant role in the determination of duration.