{"title":"Too Rich to Do the Dirty Work? Wealth Effects on the Demand for Good Jobs","authors":"L. Haywood","doi":"10.2139/ssrn.2388081","DOIUrl":null,"url":null,"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.","PeriodicalId":285024,"journal":{"name":"Unemployment Insurance eJournal","volume":"35 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Unemployment Insurance eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.2388081","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 2
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.
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