Cash-on-Hand and Competing Models of Intertemporal Behavior: New Evidence from the Labor Market
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We are extremely grateful to Rudolph Winter-Ebmer and Jospeh Zweimuller for assistance in obtaining the data used in this study. Thanks to George Akerlof, Joe Altonji, David Autor, Richard Blundell, Peter Diamond, Caroline Hoxby, David Lee, David Romer, Emmanuel Saez, Adam Szeidl, Robert Shimer, and numerous seminar participants for comments and suggestions. Thanks to Sepp Zuckerstatter and Andreas Buzek for help with institutional details. Matthew Grandy provided excellent research assistance and Josef Fersterer provided excellent assistance with data processing. Funding was provided by the Center for Labor Economics at UC Berkeley. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.