This paper provides new empirical evidence on the relationship between reservation wages of unemployed workers and macroeconomic factors - including the unemployment rate and generosity of the unemployment compensation system - as well as individual-specific determinants, such as human capital...

This paper provides new empirical evidence on the relationship between reservation wages of unemployed workers and macroeconomic factors - including aggregate and local unemployment rates, generosity of the unemployment compensation system and characteristics of the wage structure - as well as...

In this paper we use micro panel data to examine the effects of oil price shocks on employment and real wages, at the aggregate and industry levels. We also measure differences in the employment and wage responses for workers differentiated on the basis of skill level. We find that oil price...

This paper uses micro data to examine differences in the cyclical variability of employment, hours, and wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same degree of...