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The Job Market for New Economists: A Market Design Perspective

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  • Peter Coles
  • John Cawley
  • Phillip B. Levine
  • Muriel Niederle
  • Alvin E. Roth
  • John J. Siegfried

Abstract

This paper, written by the members of the American Economic Association (AEA) Ad Hoc Committee on the Job Market, provides an overview of the market for new Ph.D. economists. It describes the role of the AEA in the market and focuses in particular on two mechanisms adopted in recent years at the suggestion of our Committee. First, job market applicants now have a signaling service to send an expression of special interest to up to two employers prior to interviews at the January Allied Social Science Associations (ASSA) meetings. Second, the AEA now invites candidates who are still on the market, and employers whose positions are still vacant, to participate in a web-based "scramble" to reduce search costs and thicken the late part of the job market. We present statistics on the activity in these market mechanisms and present survey evidence that both mechanisms have facilitated matches. The paper concludes by discussing the emergence of platforms for transmitting job market information and other design issues that may arise in the market for new economists.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.24.4.187
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Bibliographic Info

Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 24 (2010)
Issue (Month): 4 (Fall)
Pages: 187-206

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Handle: RePEc:aea:jecper:v:24:y:2010:i:4:p:187-206

Note: DOI: 10.1257/jep.24.4.187
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  1. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
  2. Alvin E. Roth, 2006. "Repugnance as a Constraint on Markets," Levine's Bibliography 321307000000000629, UCLA Department of Economics.
  3. Alvin E Roth, 2007. "Deferred Acceptance Algorithms: History, Theory, Practice, and Open Questions," Levine's Bibliography 843644000000000283, UCLA Department of Economics.
  4. Roth, Alvin E & Xing, Xiaolin, 1997. "Turnaround Time and Bottlenecks in Market Clearing: Decentralized Matching in the Market for Clinical Psychologists," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 284-329, April.
  5. Muriel Niederle & Leeat Yariv, 2009. "Decentralized Matching with Aligned Preferences," NBER Working Papers 14840, National Bureau of Economic Research, Inc.
  6. Muriel Niederle & Alvin E. Roth, 2009. "Market Culture: How Rules Governing Exploding Offers Affect Market Performance," American Economic Journal: Microeconomics, American Economic Association, vol. 1(2), pages 199-219, August.
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Citations

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Cited by:
  1. Ajay Agrawal & John Horton & Nicola Lacetera & Elizabeth Lyons, 2013. "Digitization and the Contract Labor Market: A Research Agenda," NBER Working Papers 19525, National Bureau of Economic Research, Inc.
  2. Janine Balter & Michela Rancan & Olena Senyuta, 2014. "Truncation in the Matching Markets and Market Ineffciency," RSCAS Working Papers 2014/04, European University Institute.
  3. Krause, Annabelle & Rinne, Ulf & Zimmermann, Klaus F., 2012. "Anonymous job applications of fresh Ph.D. economists," Economics Letters, Elsevier, vol. 117(2), pages 441-444.
  4. Peter Coles & Ran Shorrer, 2013. "Optimal Truncation in Matching Markets," Working Papers 2013.49, Fondazione Eni Enrico Mattei.
  5. Alexey Kushnir, 2010. "Harmful Signaling in Matching Markets," Working Papers 2010.121, Fondazione Eni Enrico Mattei.
  6. Alvin E. Roth, 2010. "Marketplace Institutions Related to the Timing of Transactions," NBER Working Papers 16556, National Bureau of Economic Research, Inc.
  7. Cheremukhin, Anton A. & Tutino, Antonella & Restrepo-Echavarria, Paulina, 2014. "A theory of targeted search," Working Papers 1402, Federal Reserve Bank of Dallas.
  8. Peter Coles & Alexey Kushnir & Muriel Niederle, 2010. "Preference Signaling in Matching Markets," NBER Working Papers 16185, National Bureau of Economic Research, Inc.

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