Bas van der Klaauw
(), Aico van Vuuren
() and Peter Berkhout
Bas van der Klaauw: Free University Amsterdam, Postal: De Boelelaan 1105, NL-1081 HV Amsterdam, The Netherlands
Aico van Vuuren: Free University Amsterdam, Postal: De Boelelaan 1105, NL-1081 HV Amsterdam, The Netherlands
Peter Berkhout: University of Amsterdam, Postal: Roetersstraat 29, NL-1018 WB Amsterdam, The Netherlands
Abstract: In this paper we develop a structural model for job search behavior of students entering the labor market. The model includes endogenous search effort and on the job search. Since students usually do not start a regular job before graduation but start job search earlier, our model is not stationary. The model explains the common finding that a substantial share of individuals starts working immediately upon graduation. We estimate the model using a unique data set of individuals who completed undergraduate education in the Netherlands between 1995 and 2001. Our estimation results show that 1 percentage point decrease in unemployment rate increases wage offers on average with 3 percent and that there are substantial returns to work experience. Employment rates at graduation could be increased from 40 percent to 65 percent if alls students start job search 6 months prior to graduation.
55 pages, April 6, 2005
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