This paper examines whether subjective expectations of unemployment are reliable indicators of the probability of becoming unemployed, and investigates their association with wage growth. We find that workers' fears of unemployment are increased by their previous unemployment experience and by...

In the 1997 and 1998 waves of the British Household Panel Survey, workers are asked to assess their level of job security in terms of the probability of becoming unemployed within the next year. We examine whether these perceptions of insecurity are purely subjective or are systematically...

In 1996 and 1997, approximately 1 in 10 British workers thought that it was either likely or very likely that they would lose their job within 12 months. Increased job insecurity has been touted as a possible cause for the decline of equilibrium unemployment in Britain and the United States...

In the 1997 and 1998 waves of the British Household Panel Survey, workers are asked to assess their level of job security in terms of the probability of becoming unemployed within the next year. We examine whether these perceptions of insecurity are purely subjective or are systematically...

In 1996 and 1997, approximately 1 in 10 British workers thought that it was either likely or very likely that they would lose their job within 12 months. Increased job insecurity has been touted as a possible cause for the decline of equilibrium unemployment in Britain and the United States...

This paperexamines whether subjective expectations of unemployment are reliable indicators of the probability of becoming unemployed, and investigates their association with wage growth. We find that workers’ fears of unemployment are increased by their previous unemployment experience and by...

This article examines whether subjective expectations of unemployment are reliable indicators of the probability of becoming unemployed and investigates their association with wage growth. We find that workers' fears of unemployment are increased by their previous unemployment experience and by...

The failure of models of aggregate consumption to predict the consumer expenditure boom in the late 1980s is well- documented. This has generated a large theoretical and empirical literature in an attempt to refine our understanding of aggregate consumer spending behaviour. In this paper we...

Recent theoretical developments relating to investment under uncertainty have highlighted the importance of irreversibility for the timing of investment expenditures and their expected returns. This has subsequently stimulated a growing empirical literature which examines uncertainty and...