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Wages, rents, unemployment, and the quality of life

Matthias Wrede ()

No 01/2012 [rev.], FAU Discussion Papers in Economics from Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics

Abstract: Combining a spatial equilibrium model with a search-matching unemployment model, this paper analyzes the willingness to pay for regional amenities and the regional quality of life when wages, rents, and unemployment risk compensate for local amenities and disamenities. The results are compared with those obtained from the Rosen-Roback approach. Furthermore, the paper shows that the wage curve is negatively sloped for quasi-linear utility. Specifically, the wage rate increases and the unemployment ratio decreases in response to an increase in the amenity level if the amenity is marginally more beneficial to producers than to consumers. As an illustration of the unemployment-adjusted quality-of-life measure, the quality of life in West German counties is estimated.

Keywords: quality of life; residential mobility; unemployment; job search; matching (search for similar items in EconPapers)
JEL-codes: R12 R13 R14 H73 J61 J64 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-geo, nep-hap, nep-lab and nep-ure
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
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https://www.econstor.eu/bitstream/10419/59572/1/718215222.pdf (application/pdf)

Related works:
Working Paper: Wages, Rents, Unemployment, and the Quality of Life (2013) Downloads
Working Paper: Wages, Rents, Unemployment, and the Quality of Life (2012) Downloads
Working Paper: Wages, rents, unemployment, and the quality of life (2012)
Working Paper: Wages, Rents, Unemployment, and the Quality of Life (2012) Downloads
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