Replication data for: Paying to Avoid Recession: Using Reenlistment to Estimate the Cost of Unemployment

Paco Martorell & Mark Borgschulte
This paper provides revealed-preference estimates of the monetary value to workers of a lower unemployment rate at the time of job separation. By examining the decision between reenlisting and exiting the military, we find that service members would sacrifice 1.5-2 percent in earnings to avoid a 1 percentage point increase in the home-state unemployment rate during job search. Comparing these quantities to realized earnings losses for those who separate suggests that the value of non-work...
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