Macro Recruiting Intensity from Micro Data

Simon Mongey and Giovanni Violante

No 26231, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We merge QCEW and JOLTS microdata to study the recruiting intensity of firms in the cross-section and over time. We show that vast establishment-level heterogeneity in vacancy filling rates is entirely explained by differences in gross hiring rates. We provide theory that supports these empirical facts and, through the lens of this theory, combine firm-level decisions and data into an empirical measure of Aggregate Recruiting Intensity (ARI). We show that procyclicality of ARI is primarily due to reductions of recruiting effort in slack labor markets. Jointly, these results inform a proxy ARI index that is easily computable from publicly available macroeconomic time series. Fluctuations in ARI account for around 40% of the volatility of overall aggregate match efficiency from 2002 to 2019.

JEL-codes: E24 E32 (search for similar items in EconPapers)
Date: 2019-09
New Economics Papers: this item is included in nep-lab and nep-mac
Note: EFG
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://www.nber.org/papers/w26231.pdf (application/pdf)

Related works:
Working Paper: Macro Recruiting Intensity from Micro Data (2020)
Working Paper: Macro Recruiting Intensity from Micro Data (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:26231

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w26231

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().