Macro Seminar: Carlos Carillo-Tudela, University of Essex

Title: Recruitment Intensity, Hiring Rate and the Vacancy Yield

2019.11.18 | Charlotte Sparrevohn

Date Tue 03 Dec
Time 10:00 11:00
Location Fuglesangs Allé 4, 8210 Aarhus V, Building 2632(L), room 242

Speaker: Carlos Carillo-Tudela, University of Essex

Title: Recruitment Intensity, Hiring Rate and the Vacancy Yield (joint with Leo Kaas and Hermann Gartner)

Abstract: Firms' search intensity is important for labour market matching as well as for aggregate labour market dynamics. Yet there is only limited research on the recruitment behaviour at the microeconomic level. Using the Job Vacancy Survey of Germany's Institute for Employment Research (IAB), linked with the administrative employment histories, we explore the relationships between hiring, job-filling rates and recruitment policy. We find that faster hiring goes along with higher search effort, lower hiring standards and higher wages. We develop a quantitative competitive search model with heterogeneous firms and match-specific productivity in which firms decide about search effort, hiring standards and wage offers. A calibrated version of the model allows to assess the relative importance of these recruitment dimensions for the variation of job-filling rates across firms, as well as for the variation of matching efficiency across local labour markets.

Organisers: Bastian Schulz & W. Similan Rujiwattanapong and Giovanni Pellegrino

Macro Seminar Series