DIRECTED SEARCH WITH PHANTOM VACANCIES

James Albrecht, Bruno Decreuse and Susan Vroman
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Bruno Decreuse: AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique

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Abstract: Abstract When vacancies are filled, the job ads often remain, creating phantom vacancies. Older listings more likely represent phantoms. We assume job seekers direct their search based on listing age. Forming a match with an age‐ a vacancy creates an age‐ a phantom with probability β and generates an externality affecting vacancies aged a and older. Thus, the externality decreases with the match's listing age. Relative to efficient behavior, job seekers overapply to younger listings. We calibrate using U.S. data. The contribution of phantoms to inefficiency is large, but, given their existence, the planner cannot improve much on the directed search allocation.

Date: 2022-12-17
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Published in International Economic Review, 2022, 64 (2), pp.837-869. ⟨10.1111/iere.12615⟩

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Related works:
Journal Article: DIRECTED SEARCH WITH PHANTOM VACANCIES (2023)
Working Paper: Directed Search with Phantom Vacancies (2021)
Working Paper: Directed Search with Phantom Vacancies (2020)
Working Paper: Directed Search with Phantom Vacancies (2017)
Working Paper: Directed Search with Phantom Vacancies (2017)
Working Paper: Directed Search with Phantom Vacancies (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04454024

DOI: 10.1111/iere.12615

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