Too Rich to Do the Dirty Work?: Wealth Effects on the Demand for Good Jobs

Luke Haywood

No 1355, Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research

Abstract: Jobs offer different wages and different non-monetary working conditions. This paper investigates how the demand for non-monetary aspects evolves over changing wealth levels. Wages do not perfectly compensate individuals for differential utility of jobs in a labour market with informational frictions. Changes in wealth may then affect preferences for different jobs. Willingness to pay for non-monetary aspects of jobs (measured by job satisfaction for work "in itself") is found to increase with wealth shocks. Duration models are estimated based on the reduced form of a search model. Wealth may play an important role in labour market choices.

Keywords: Labor supply; wealth; job satisfaction; duration models (search for similar items in EconPapers)
JEL-codes: J21 J28 J32 J64 (search for similar items in EconPapers)
Pages: 43 p.
Date: 2014
New Economics Papers: this item is included in nep-hap, nep-lab and nep-lma
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.diw.de/documents/publikationen/73/diw_01.c.435718.de/dp1355.pdf (application/pdf)

Related works:
Journal Article: Wealth effects on job preferences (2016)
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:diw:diwwpp:dp1355

Access Statistics for this paper

More papers in Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by Bibliothek ().