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Vacancy Duration and Wages

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  • Ihsaan Bassier
  • Alan Manning
  • Barbara Petrongolo

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.

Suggested Citation

  • Ihsaan Bassier & Alan Manning & Barbara Petrongolo, 2023. "Vacancy Duration and Wages," Economics Series Working Papers 1020, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:wpaper:1020
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