Macro Recruiting Intensity from Micro Data

Mongey, Simon; Violante, Giovanni L.

doi:10.3386/w26231

Cited by 9 publications

(6 citation statements)

References 27 publications

(38 reference statements)

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“…2929 We use establishment‐month observations in JOLTS microdata 2002–2018 (see Mongey and Violante (2019)). As in Davis, Faberman, and Haltiwanger (2013), we pool all vacancies, hires, and employment in net monthly growth rate bins of 1% width.…”

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confidence: 99%

Firm and Worker Dynamics in a Frictional Labor Market

Bilal

Engbom

Mongey

et al. 2022

ECTA

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This paper integrates the classic theory of firm boundaries, through span of control or taste for variety, into a model of the labor market with random matching and on‐the‐job search. Firms choose when to enter and exit, whether to create vacancies or destroy jobs in response to shocks, and Bertrand‐compete to hire and retain workers. Tractability is obtained by proving that, under a parsimonious set of assumptions, all worker and firm decisions are characterized by their joint surplus, which in turn only depends on firm productivity and size. The job ladder in marginal surplus that emerges in equilibrium determines net poaching patterns by firm characteristics that are in line with the data. As frictions vanish, the model converges to a standard competitive model of firm dynamics. The combination of firm dynamics and search frictions allows the model to: (i) quantify the misallocation cost of frictions; (ii) replicate elusive life‐cycle growth profiles of superstar firms; and (iii) make sense of the failure of the job ladder around the Great Recession as a result of the collapse of firm entry.

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confidence: 99%

Firm and Worker Dynamics in a Frictional Labor Market

Bilal

Engbom

Mongey

et al. 2022

ECTA

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“…a higher number of realized hires per vacancy. More recently, Mongey and Violante (2019) extend the analysis of DFH in the JOLTS data and show that their results hold within establishment size, age and wage groups. 5 DFH's findings have attracted considerable attention as it suggests that firms use other channels to recruit workers if they quickly expand their workforce, and a reduction in aggregate recruiting intensity may be responsible for the shift of the U.S. Beveridge Curve during the Great Recession.…”

Section: Related Empirical Literaturementioning

confidence: 68%

Vacancy Durations and Entry Wages: Evidence from Linked Vacancy–Employer–Employee Data

Kettemann¹,

Mueller²,

Zweimüller³

2023

Review of Economic Studies

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This paper explores the relationship between the duration of a vacancy and the starting wage of a new job, using linked data on vacancies, the posting establishments and the workers eventually filling the vacancies. The unique combination of large-scale, administrative worker-, establishment- and vacancy-data is critical for separating establishment- and job-level determinants of vacancy duration from worker-level heterogeneity. Conditional on observables, we find that vacancy duration is negatively correlated with the starting wage and its establishment component, with precisely estimated elasticities of -0.07 and -0.21, respectively. While the negative relationship is qualitatively consistent with search-theoretic models where firms use the wage as a recruiting device, these elasticities are small, suggesting that firms’ wage policies can account only for a small fraction of the variation in vacancy filling across establishments.

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“…In line with the U.S. data, we verify that most of the observed variation in hiring rates along the establishment growth distribution arises from the vacancy yields margin; that is, establishment that grow faster hire more per vacancy. This is a robust relationship that holds after controlling for establishment size, age and industry (see also Mongey and Violante, 2020). We also examine whether the observed characteristics of new hires, such as previous employment status, age or gender vary systematically with the establishments' growth rates, which could potentially contribute to variation of vacancy yields.…”

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confidence: 89%

Recruitment Policies, Job-Filling Rates and Matching Efficiency

2020

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Any opinions expressed in this paper are those of the author(s) and not those of IZA. Research published in this series may include views on policy, but IZA takes no institutional policy positions. The IZA research network is committed to the IZA Guiding Principles of Research Integrity. The IZA Institute of Labor Economics is an independent economic research institute that conducts research in labor economics and offers evidence-based policy advice on labor market issues. Supported by the Deutsche Post Foundation, IZA runs the world's largest network of economists, whose research aims to provide answers to the global labor market challenges of our time. Our key objective is to build bridges between academic research, policymakers and society. IZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author.

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Macro Recruiting Intensity from Micro Data

Cited by 9 publications

References 27 publications

Firm and Worker Dynamics in a Frictional Labor Market

Firm and Worker Dynamics in a Frictional Labor Market

Vacancy Durations and Entry Wages: Evidence from Linked Vacancy–Employer–Employee Data

Recruitment Policies, Job-Filling Rates and Matching Efficiency

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