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Type | Journal Article |
Scope | Discipline-based scholarship |
Title | Cash-on-hand and the Duration of Job Search: Quasi-experimental Evidence from Norway |
Organization Unit | |
Authors |
|
Item Subtype | Original Work |
Refereed | Yes |
Status | Published in final form |
Language |
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Journal Title | Economic Journal |
Publisher | Wiley-Blackwell Publishing, Inc. |
Geographical Reach | international |
ISSN | 0013-0133 |
Volume | 124 |
Number | 576 |
Page Range | 540 - 568 |
Date | 2014 |
Abstract Text | We identify the causal effect of lump-sum severance payments on non-employment duration in Norway by exploiting a discontinuity in eligibility at the age of 50. We find that a payment worth 1.2 months' earnings at the median lowers the fraction re-employed after a year by about 8 percentage points. This is what we would expect if liquidity constraints force unemployed workers to accept a job offer earlier than would be optimal. As further support for the liquidity interpretation, we use data on wealth before unemployment to show that the effect of non-employment duration occurs for the non-wealthy only. |
Digital Object Identifier | 10.1111/ecoj.12135 |
Other Identification Number | merlin-id:16125 |
PDF File | Download from ZORA |
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