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)
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
New Economics Papers: this item is included in nep-eur, nep-hrm, nep-lab and nep-ltv
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