EconPapers    
Economics at your fingertips  
 

Against All Odds: Job Search during the Great Recession

Gustavo Leyva ()

No 2018-13, Working Papers from Banco de México

Abstract: The unemployed in the United States appear to allocate time to job search activities regardless of the stance of the economy. Drawing on the American Time Use Survey between 2003 and 2014, I document that the unemployed increase their search intensity only slightly if at all during recessions. Roughly, 30 minutes in a week is the additional search intensity attributed to the unemployed in response to the Great Recession. While their search intensity depends on a number of factors that would predict otherwise, such as the odds of finding work, one argument shows promise: the search costs that accumulate over an expected long period of unemployment make a job more valuable during recessions. I estimate the elasticity of the value of a job to changes in labor productivity to be at least 0.67 and at most -0.04.

Keywords: unemployed; search intensity; value of a job; business cycle (search for similar items in EconPapers)
JEL-codes: E24 E32 J22 J64 (search for similar items in EconPapers)
Date: 2018-08
New Economics Papers: this item is included in nep-lab and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
https://www.banxico.org.mx/publications-and-press/ ... -9024138A0F7A%7D.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bdm:wpaper:2018-13

Access Statistics for this paper

More papers in Working Papers from Banco de México Contact information at EDIRC.
Bibliographic data for series maintained by Dirección de Sistemas ().

 
Page updated 2021-01-12
Handle: RePEc:bdm:wpaper:2018-13