Wage Dispersion and Search Behavior: The Importance of Non-Wage Job Values
Robert E. Hall and
No 21764, NBER Working Papers from National Bureau of Economic Research, Inc
We use a rich new body of data on the experiences of unemployed jobseekers to determine the sources of wage dispersion and to create a search model consistent with the acceptance decisions the jobseekers made. Heterogeneity in non-wage job values or amenities among jobseekers and jobs is a central feature of our model. From the data and the model, we identify the distributions of four key variables: offered wages, offered non-wage job values, the value of the jobseeker's non-work alternative, and the jobseeker's personal productivity. We find that, conditional on personal productivity, the standard deviation of offered log-wages is moderate, at 0.24, whereas the dispersion of the non-wage component of offered job values is substantially larger, at 0.34. The resulting dispersion of offered job values is 0.38. We also find high dispersion of personal productivity, at 0.43.
JEL-codes: J31 J32 J64 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge and nep-lma
Note: EFG LS
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed
Published as Wage Dispersion and Search Behavior: The Importance of Non-Wage Job Values Robert E. Hall and Andreas I Mueller Journal of Political Economy 0 0:ja
Downloads: (external link)
Journal Article: Wage Dispersion and Search Behavior: The Importance of Nonwage Job Values (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:21764
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().