Collaborative Research: Interpreting the Duration to First Job and Accepted Wages in a Bargaining Model: An Empirical Investigation of Schooling and Race Differences

这个项目的重点是离开之间的过渡期 上学，获得第一份全职工作。 一般 发现获得第一份工作的难度增加了 一个人失业的时间越长， 第一个也随着搜索周期的长度而减小。 在 此外，过渡期较短的群体也倾向于 有更高的工资。 这些意见不容易调和 在标准的求职经济模型中。 已经表明 一个讨价还价的模型，在这个模型中， 配对是根据每一方的价值继续分裂， 搜索可以潜在地解释这些经验性的错误。 的 这项研究的目的是严格估计这样一个 使用过渡期长度数据的谈判模型 以及不同种族教育群体的个人的工资。 这项研究很重要，因为估计不仅提供了 数据的解释，但也将使人们能够分析 最低工资等替代性干预政策的影响 和失业补偿金。

This project focuses on the transition period between leaving school and obtaining one's first full-time job. It is generally observed that the difficulty in obtaining the first job increases the longer one is without a job, and that the wage received on the first deceases as well with the length of the search period. In addition, groups which have shorter transition periods also tend to have higher wages. These observations are not easily reconciled within standard economic models of job search. It has been shown that a bargaining model in which the value of the firm-worker pairing is split according to each party's value of continuing to search can potentially explain these empirical regularities. The purpose of this research is to estimate rigorously such a bargaining model using data on the length of the transition period and wages for individuals from different race-schooling groups. This research is important because estimation will not only provide explanations for the data, but also will enable one to analyze the impact of alternative intervention policies such as minimum wages and unemployment compensation on the school-to-work transition.