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Vacancy Duration and Wages

Ihsaan Bassier (), Alan Manning () and Barbara Petrongolo ()
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Ihsaan Bassier: London School of Economics
Alan Manning: London School of Economics
Barbara Petrongolo: University of Oxford

No 16371, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: We estimate the elasticity of vacancy duration with respect to posted wages, using data from the near-universe of online job adverts in the United Kingdom. Our research design identifies duration elasticities by leveraging firm-level wage policies that are plausibly exogenous to hiring difficulties on specific job vacancies, and control for job and market-level fixed-effects. Wage policies are defined based on external information on pay settlements, or on sharp, internally-defined, firm-level changes. In our preferred specifications, we estimate duration elasticities in the range −3 to −5, which are substantially larger than the few existing estimates.

Keywords: vacancy duration; monopsony; wages (search for similar items in EconPapers)
JEL-codes: J42 J63 J64 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2023-08
New Economics Papers: this item is included in nep-eur, nep-hrm, nep-lab and nep-ltv
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