This paper investigates the reservation wages of unemployed persons on the basis of a job-search model with non …-static reservation wages using panel data from Germany from 1987 to 1998. The results suggest that reservation wages are relatively high … in Germany compared to other countries. Furthermore, pooled regression results show that most recent wages and personal …

unemployment rate, on the division of employment between the private and public sectors, and on the distributions of wages in the …

of large flows between employment, unemployment and inactivity. Secondly, it shows that unemployment and aggregate wages …

observable but not verifiable qualifications that affect their productivity in the job. Thus posted wages prevent the hold …, bargained wages are increasing in them and, thus, may serve to entice better workers into the vacancy. We find that when the …