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Search and Non-Wage Job Characteristics

Paul Sullivan and Ted To

No 449, Working Papers from U.S. Bureau of Labor Statistics

Abstract: This paper quantifies the importance of non-wage job characteristics to workers by estimating a structural on-the-job search model. The model generalizes the standard search framework by allowing workers to search for jobs based on both wages and job-specific non-wage utility flows. Within the structure of the search model, data on accepted wages and wage changes at job transitions identify the importance of non-wage utility through revealed preference. The parameters of the model are estimated by simulated minimum distance using the 1997 cohort of the National Longitudinal Survey of Youth (NLSY97). The estimates reveal that utility from non-wage job characteristics plays an important role in determining job mobility, the value of jobs to workers, and the gains from job search. More specifically, non-wage utility accounts for approximately one-third of the total gains from job mobility. These large non-pecuniary gains from search are missed by search models which assume that the wage captures the entire value of a job to a worker.

Keywords: job search; non-wage job characteristics; wage growth; revealed preference; compensating differentials (search for similar items in EconPapers)
JEL-codes: D1 D9 J4 J6 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2011-09
New Economics Papers: this item is included in nep-dge and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

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