Specific Human Capital and Wait Unemployment
研究了失业工人因不愿接受低工资而等待原职业机会的现象，利用美国微观数据发现9%至17%的总失业可归因于这种等待性失业。
A displaced worker might rationally prefer to wait through a long spell of unemployment instead of seeking employment at a lower wage in a job he is not trained for. I evaluate this trade-off using micro data on displaced workers. To achieve identification, I exploit the fact that the more a worker has invested in occupation-specific human capital, the more costly it is for him to switch occupations and therefore the higher is his incentive to wait. I find that between 9% and 17% of total unemployment in the United States can be attributed to wait unemployment.