290 
RESULTS 
As noted above, I take the average wage rate as a measure of 
the respondent's resources. In a search theory interpreta¬ 
tion it should then be assumed that the reservation wage is 
a linear function of this quantity. The income provided in 
the spell is measured by the unemployment compensation 
received. With the conception of search as a job shift and 
from search theory it should then be expected that in the 
open employment sector the rate of reemployment would be 
positively related to the wage rate and negatively related 
to the amount of compensation received. 
Changes in the aspiration level are assumed to depend on the 
time already spent searching so that an increase in the rate 
of reemployment will be observed. This should be more 
pronounced the more likely it is that the respondent is 
located in the open sector. It seems plausible to assume 
that inexperienced workers are more likely to be located in 
the open sector and to be engaging in search while unem- 
ployed. Hence, I expect that younger workers have more 
positive time dependency than more experienced respondents. 
Similarly, minority workers can be assumed to be more likely 
to be in the open sector, so that the same interaction will 
be observed for race. 
Results of the complementary log-log estimation of various 
models are shown in Table 3. 
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Table 3 Here 
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The results are very much conforming to predictions. First, 
note that the model that does not include the interaction